The risks of inflation, longevity, and overall market conditions can still have a significant impact on your portfolio once you are living in retirement. Protect your savings by remaining active in managing your finances with the following three strategies.
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Establish a retirement “paycheck”
Consider a conservative savings withdrawal rate of no more than 4% to 5% of your portfolio's value each year to make your savings last.
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Pay attention to market swings
As you near retirement age, your investment timeline changes as your margin of opportunity to make up losses shortens. Market volatility is a normal part of investing, so remember to:
Be conservative when choosing a withdrawal amount to help safeguard your nest egg against future market declines.
Maintain a diversified portfolio mix to reduce the impact that any single losing investment can have on your overall portfolio performance.
Review and rebalance your portfolio periodically with a financial professional to ensure that it still reflects your goals.
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Stay balanced
Both emotionally and financially! By maintaining a well-balanced portfolio,
you set yourself on the path to steady retirement income and long-term investment growth.
John Hancock offers a way to maintain a balanced investment approach through our series of Lifestyle Portfolios, designed to provide optimal asset allocation in a single portfolio. For more information, take the Lifestyles Portfolio Tour. |