Enjoying Retirement – Manage Your Funds and Spend Smart

You’ve worked hard for years and now it’s time for you to enjoy mornings without alarm clocks and evenings that wind down when you want them to. Make certain that your savings continues to support you for as long as you need by developing a retirement withdrawal plan and building up an emergency fund that will see you through unanticipated changes.

Learning the rules surrounding your IRA, tapping your investment portfolio and deciding at what rate you can afford to make withdrawals will help you manage your funds wisely. You can use your withdrawals to rebalance your portfolio, effectively managing risk while supporting your nest egg’s growth at a rate at which you are comfortable. Now is also a good time for you to set up a cash-flow account that can give you access to spending money garnered from the sale of short-term portfolio assets without jeopardizing your long-term investments.

Even if you have been in retirement for a few years, it’s important to continue to assess your savings mix. You may wish to take advantage of a rising market by investing more money in stocks, or decide to reallocate funds to bank FDIC-insured products like CDs and money market accounts. With a solid plan that takes into account your evolving situation, you can focus on the next hole, the next trip to see your grandchildren, and everything you’ve been looking forward to.

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