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You’ve spent years investing so you can retire on your terms. But what’s your strategy for income when your regular paychecks end?
Staying the Course
Viewing your investments based on their purpose may help you better prepare for the ups and downs of the market and stick with your strategy over time. For example, if the market declines, there may be a temptation to make changes and potentially sell stocks. But your stocks are designed to provide for your long-term income. Your near-term income is already provided by your cash and short-term fixed income and/or CD ladder, so you can spend from them, providing your stocks time to recover.
With the knowledge of your long-term goals, income needs and comfort with risk, your financial advisor can help you position your portfolio to provide the income you need when you need it. This can not only help you better navigate the changing market environment during retirement, but more importantly provide you the ongoing “paycheck” you need to help you live the retirement you desire.