Reported about 1 month ago
At 70, having $1 million in an IRA provides a solid foundation for retirement, but careful planning is essential to ensure these savings last. Key strategies include maintaining a conservative withdrawal rate, diversifying investments, and considering other income sources before tapping into your IRA. Additionally, understanding personal financial needs and risks, preparing for required minimum distributions, and possibly utilizing trusts can significantly enhance the sustainability of your retirement savings. Consulting a financial advisor is recommended to tailor a strategy to individual circumstances.
Source: YAHOO