Retirement Generally Fit Into 3 Stages

How to think about market unpredictability in a plan for retirement income. People who think a lot about retirement generally fit into three stages:

1) Planning to retire within five to ten years and wondering about whether and how to shift your savings during the final stretch.
2) About to retire and ready to take on the final pieces of a plan that seemed appropriate over the past few years.
3) Already retired with a plan that has done well for the past several years — but worried about the effects of the latest market unpredictability.
When you put together your own plan for retirement income you want your income to not only meet your current needs but to also grow over time and last your lifetime. And you may want to leave a specific legacy at your passing. Finally, while often not talked about, you want a plan with a long-term view that will also decrease the anxiety that comes with huge drops in the market.

In retirement, the main concern is running out of money, so although you want the potential upside of the market, you also want to avoid big stakes. The result should be a plan that includes stocks, while also relying on income from safe sources to balance out the markets’ rough trips.

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