retirement

How not to destroy your retirement portfolio

Retirement » How Not To Destroy Your Retirement Portfolio

How not to destroy your retirement portfolio
How not to destroy your retirement portfolio © Candace Hartley/Shutterstock.com

As your retirement date approaches, be careful. Just as you have a to-do list to follow as you approach retirement, you have some "don't do's" to abide by, or you risk upsetting your carefully laid plans.

For example, don't make the mistake of exiting completely from either stocks or bonds. You should be in both, but with a different balance as you age. Tread cautiously into illiquid investments such as real estate or annuities. You may not be able to access funds so readily if you have a sudden change in circumstances. A well-diversified retirement portfolio is still important after you stop working.

And don't blow through your savings. Spend your money carefully, or you could end up in the same position as some sudden lottery winners: broke. Create a budget, and stick to it.

Keep the following caveats in mind, and you'll have a more secure retirement.

Achieving retirement success Whether your retirement plans involve a part-time job or full-time leisure, be sure to think through the details to ensure your dreams come true.

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
CD & INVESTING NEWSLETTER

Learn the latest trends that will help grow your portfolio, plus tips on investing strategies. Delivered weekly.

Blog

Jennie Phipps

Get your shots and stay healthy

Vaccinations are free for Medicare participants and people insured under the ACA.  ... Read more

advertisement
Partner Center
advertisement

Connect with us