Series: 9 Mistakes to Avoid in Retirement Planning
It’s normal practice to shift your money to lower-risk vehicles as you head nearer to retirement. You want to minimize risk if the market falls so you don’t lose a lot. The problem is that many view their portfolio as a whole, rather than parts.
Years of experience have taught us that it’s wise to divide your portfolio into timeframes for withdrawals or your objectives for their use. One part can meet needs in the short-term with more liquidity and less risk. Another segment is for meeting long-term needs with higher risk, allowing you to access important growth opportunities.