Build a Needs-Based Retirement Portfolio
How to do-it-yourself and get a custom fit.
My new book,30-Minute Money Solutions,provides step-by-step guidance on completing 36 separate financial-planning tasks, each in a half hour or less. The book is designed to help investors who are newer in their investing careers, but it also tackles topics that are important for retirees and pre-retirees. The following, on how to build a retirement portfolio driven by your income needs, is an excerpt from the book.
The e-mails poured in throughout 2008 and continued into 2009. During the economic crisis and the worst bear market since the Great Depression, retirees were seeking hand-holding and guidance about what to do next.
There was Oscar, who was concerned about what would happen if his pension--which he had counted on for income during retirement--failed. How could he check up on the health of his pension, and would his retirement savings cover the shortfall in his income if his pension plan did run into problems?
Christine Benz does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.