{"id":47068,"date":"2021-08-23T16:25:00","date_gmt":"2021-08-23T20:25:00","guid":{"rendered":"https:\/\/www.shortform.com\/blog\/?p=47068"},"modified":"2021-09-02T19:22:48","modified_gmt":"2021-09-02T23:22:48","slug":"retirement-investment-strategy","status":"publish","type":"post","link":"https:\/\/www.shortform.com\/blog\/retirement-investment-strategy\/","title":{"rendered":"Retirement Investment Strategy: Planning Your Future"},"content":{"rendered":"\n<p>What is the best retirement investment strategy? What advice will help you plan effectively for the future? <\/p>\n\n\n\n<p>If you want to have a comfortable retirement, it&#8217;s important to have a financial retirement plan. Knowing the different options available, including lifecycle funds and annuity will help you build an effective retirement investment strategy. <\/p>\n\n\n\n<p>Keep reading for the best retirement investment strategy. <\/p>\n\n\n\n<!--more-->\n\n\n\n<h2 class=\"wp-block-heading\">Retirement Investment Strategy<\/h2>\n\n\n\n<p>In his book <em><a href=\"https:\/\/www.shortform.com\/blog\/a-random-walk-down-wall-street-by-burton-malkiel\/\">A Random Walk Down Wall Street<\/a><\/em>, economist Burton Malkiel reveals his recommended retirement investment strategy. Having an allocation plan is crucial for an effective retirement investment strategy:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Recommended Allocation for Late Sixties and Beyond<\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li>Stocks: 40%: Half in US companies with good representation of smaller companies, half in international stocks including emerging markets<\/li><li>Bonds: 35%: Mostly no-load, high-grade corporate debt; some Treasuries, foreign bonds, and bond substitutes (high-dividend stocks)<\/li><li>Real Estate: 15% REITs<\/li><li>Cash: 10%: Money-market fund or short-term bond fund (maturity of 1 to 1.5 years)<\/li><li>Comments: A more conservative allocation to match lower capacity for risk. Allocation designed to maximize income production<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Lifecycle Funds<\/strong><\/h3>\n\n\n\n<p>As well as a plan for <a href=\"https:\/\/www.shortform.com\/blog\/resource-allocation-examples\/\">resource allocation<\/a>, there are also other options to consider for an effective retirement investment strategy. This includes lifecycle funds. <\/p>\n\n\n\n<p>A common default for corporate retirement plans, lifecycle funds are <strong>pegged to a holder\u2019s prospective year of retirement. <\/strong>As the retirement year approaches, the fund <strong>automatically rebalances<\/strong> to a more conservative allocation.&nbsp;<\/p>\n\n\n\n<p>Most major mutual-fund companies like Vanguard and Fidelity offer lifecycle funds. Simply pick the fund pegged to the year you plan to retire. Before you do, <strong>make sure to check the expense ratio<\/strong> so that you\u2019re not compromising your returns by paying hefty fees.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Saving for (and in) Retirement<\/strong><\/h3>\n\n\n\n<p>The data show that Americans in general are <strong>poorly situated financially for retirement<\/strong>. For example, only half of Americans have retirement accounts (of any kind); among the poorest quartile of Americans, that number is 11%. A successful retirement investment strategy takes into consideration the amount you have saved. <\/p>\n\n\n\n<p>For underprepared retirees, the options are narrow. Malkiel suggests continuing to<strong> work part time<\/strong>\u2014which can have ulterior health benefits by keeping seniors active and social\u2014and <strong>delaying taking Social Security<\/strong> for as long as possible to maximize those benefits. (Seniors in poor health with lower life expectancy might opt to begin taking Social Security as soon as possible to realize the benefits while they can.)<\/p>\n\n\n\n<p>For those retirees who\u2019ve managed to build up a nest egg, there are two primary options for ensuring your money lasts as long as you do: <strong>annuitizing your savings<\/strong> or holding onto your portfolio and<strong> establishing a spending rate<\/strong>. Malkiel recommends <strong>at least a <\/strong><strong><em>partial<\/em><\/strong><strong> annuitization <\/strong>of your retirement savings and, if you choose to manage your own investments, <strong>spending only 4% of the total value of your nest egg annually<\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Annuities&nbsp;<\/strong><\/h3>\n\n\n\n<p>An \u201cannuity\u201d\u2014or \u201clong-life insurance\u201d\u2014is a <strong>contract with an insurance company for regular payments as long as the purchaser lives<\/strong>. Considering whether an annuity is right for you is part of a successful retirement investment strategy. <\/p>\n\n\n\n<p>Malkiel\u2019s take is that while annuities offer the security of never running out of money, <strong>they can be tax inefficient and unwieldy, <\/strong>especially<strong> <\/strong>if you want to vary your spending year over year or leave a bequest to descendants.<\/p>\n\n\n\n<p><em>For retirees who\u2019ve managed to build up a nest egg<\/em>, there are two primary options: <strong>annuitizing your savings<\/strong> or holding onto your portfolio and<strong> establishing a spending rate<\/strong>. Malkiel recommends <strong>at least a <\/strong><strong><em>partial<\/em><\/strong><strong> annuitization <\/strong>of your retirement savings and, if you choose to manage your own investments, <strong>spending only 4% of the total value of your nest egg annually<\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Establishing Your Own Spending Rate<\/strong><\/h3>\n\n\n\n<p>Retirees who opt to manage their investments themselves\u2014or only annuitize a portion of their nest egg\u2014need to <strong>devise a <a href=\"https:\/\/www.shortform.com\/blog\/saving-and-spending\/\">spending plan<\/a><\/strong> that ensures they stay solvent through their golden years.<\/p>\n\n\n\n<p>Malkiel\u2019s solution is the \u201c<strong>4% rule<\/strong>.\u201d According to this rule, retirees should <strong>spend no more than 4% of their retirement savings annually<\/strong>.<\/p>\n\n\n\n<p>Why 4%? Two reasons:<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li>4% is likely to be <strong>below the average return rate of a <a href=\"https:\/\/www.shortform.com\/blog\/diversify-your-portfolio\/\">diversified portfolio<\/a><\/strong> of stocks and bonds minus inflation. This means that the portfolio will continue to offset the reduction in purchasing power inflicted by inflation. (The formula here is <em>portfolio rate of return \u2013 inflation = annual spend<\/em>. So, if your portfolio returns on average 7% and the inflation rate is 1.5%, you <em>could <\/em>increase your annual spend to 5.5%, but see #2.)<\/li><li>4% also protects you from the<strong> inevitable volatility in returns<\/strong>. For example, although stocks may return 7% on average over the long run, there will be years when returns are less than that. If you limit your annual withdrawals in bull years<strong>, you create a backstop against bear markets<\/strong>.&nbsp;<\/li><\/ol>\n\n\n\n<h3 class=\"wp-block-heading\">Three Further Considerations<\/h3>\n\n\n\n<p>There are three further considerations for a retirement investment strategy: <\/p>\n\n\n\n<p>1) <em>Regularize Your Withdrawals by Gradually Increasing Them<\/em><\/p>\n\n\n\n<p>Because the value of your portfolio will fluctuate each year, maintaining a consistent 4% withdrawal rate may result in <strong>wide fluctuations in income<\/strong>. To reduce these disparities, begin with 4% but <strong>increase your withdrawal rate gradually<\/strong>\u2014perhaps by 1.5% to 2% per annum.<\/p>\n\n\n\n<p>2) <em>Realize Gains by Rebalancing the Portfolio<\/em><\/p>\n\n\n\n<p>It\u2019s likely that the sum of bond interest and stock dividends won\u2019t be enough to get you to 4% of the value of your portfolio. In this case, you should make up the difference by <strong>selling assets that have become overweighted<\/strong>. For example, if stocks have a banner year and your allocation has gone from approximately 50\/50 to 60\/40, then you should<strong> sell stocks to realize income <\/strong><strong><em>and <\/em><\/strong><strong>reduce risk<\/strong>. (Rebalancing annually is a good idea anyway, even if you don\u2019t need to do so for income reasons.)<\/p>\n\n\n\n<p>3) <em>Put Off the Taxman<\/em><\/p>\n\n\n\n<p>If you have monies in both taxable and tax-deferred accounts, it\u2019s wise to <strong>withdraw from the taxable accounts first<\/strong> (because the more you gain in these accounts, the more you\u2019re taxed). If you intend to leave a bequest to your children or heirs, <strong>draw on your ROTH IRA last <\/strong>(because there\u2019s no required minimum distribution from these accounts, and their earnings are tax-free).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is the best retirement investment strategy? What advice will help you plan effectively for the future? If you want to have a comfortable retirement, it&#8217;s important to have a financial retirement plan. Knowing the different options available, including lifecycle funds and annuity will help you build an effective retirement investment strategy. Keep reading for the best retirement investment strategy.<\/p>\n","protected":false},"author":12,"featured_media":32840,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[81,7,31],"tags":[469],"class_list":["post-47068","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economics","category-lifestyle","category-money","tag-a-random-walk-down-wall-street","","tg-column-two"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.3 (Yoast SEO v24.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Retirement Investment Strategy: Planning Your Future - Shortform Books<\/title>\n<meta name=\"description\" content=\"In order to have a comfortable retirement, it&#039;s important to have a plan. 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