One of the biggest financial impacts of retirement is the mind-set change that is needed to manage your portfolio. Prior to retirement, financial planners recommend having “ready-cash” or an emergency fund equal to 3 – 12 months of expenses. In addition, every month you are adding money to your portfolio through 401(k) accounts, IRAs, etc.
In retirement, the dynamics of your portfolio are turned upside down. Instead of adding to your savings every month, most people need to take money out ...Continue Reading →