3 Key IRA Moves to Make a Year Before You Retire
Yahoo Finance ·
If retirement is about a year away, you may be getting increasingly excited by the minute. But if that's the case, now's a good time to do an IRA checkup. Here are three key moves to make that could help you approach retirement with more confidence. During your wealth-building years, it's smart to load up on stocks in an IRA. But if you're nearing retirement, it may be time to get more conservative. Keeping 90% of your retirement savings in the stock market exposes you to steep losses in the event of a downturn. So now's the time to check up on your asset allocation and make sure you're not taking on too much risk. You're not going to spend your entire IRA balance at once in retirement -- or at least you shouldn't. Now's the time to figure out a withdrawal rate that's safe without being overly conservative.
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