Reported 18 days ago
At 75, retirees holding $900,000 in an IRA must wisely manage their savings to ensure financial stability through their lifespan. This involves balancing income and expenses, adjusting for inflation, and building a diversified portfolio. Key strategies include employing the 4% withdrawal rule, considering various investment options like bonds and stocks, and possibly seeking guidance from a financial advisor. Additionally, they should estimate spending needs based on average expense categories while managing risks through insurance. Ultimately, with careful planning, it is feasible for retirees to stretch their savings comfortably.
Source: YAHOO