How can I adjust my retirement investment strategy as I approach retirement and during retirement?

As you approach retirement and during retirement, it is important to adjust your investment strategy to reflect your changing financial goals and risk tolerance. Here are some steps you can take:

Rebalance your portfolio: As you get closer to retirement, it may be a good idea to shift your portfolio toward more conservative investments that prioritize capital preservation and income generation.

Consider annuities: Annuities can provide a guaranteed stream of income during retirement and can be a good option for those who want to ensure they have a stable source of income in retirement.

Review your withdrawal strategy: It's important to have a strategy for withdrawing funds from your retirement accounts to ensure you don't run out of money in retirement. Consider working with a financial advisor to develop a withdrawal strategy that meets your needs.

Plan for healthcare costs: Healthcare costs can be a significant expense in retirement, so it's important to plan for them accordingly. Consider investing in a Health Savings Account (HSA) or purchasing longterm care insurance to help offset these costs.

Stay informed and adjust as needed: Keep up with changes in the market and stay informed about new investment opportunities that may be a good fit for your retirement portfolio. Be prepared to adjust your strategy as needed to ensure you stay on track to meet your financial goals.