Make sure your savings can last
You’re nearing retirement, but you haven’t saved $1 million. That doesn’t mean you can never retire. Here are 8 financial do’s and don’ts for savers with a six-figure nest egg. 1. Do: Know your number Focus on the amount you’ll need in retirement, rather than how much you’ve accumulated. Realize that your wants may decline as you age. Consider Social Security as your inflation-protected lifetime income stream, as well as any other pension. Don’t try to use interest and dividends for your cash flow needs. That would limit your return and eliminate inflation ...
