Game Plan for the 60-Somethings
Updated: 09 July 2020
By the time you enter your sixties, your investment strategy should be about protecting what you have so that the lifestyle you’ve secured over your career can be maintained in retirement.
Rebalance Your Portfolio
Continue to rebalance your portfolio regularly. Rebalancing controls risk for your whole portfolio.
Stay Tax-Conscious
If you retire during your sixties, draw cash out of your investments in a tax-efficient and judicious way. Sell off assets periodically to avoid momentary peaks and valleys in the market while maintaining the overall balance of your portfolio.
Plan Carefully for Social Security
Research your options and choose your Social Security distribution to match your lifestyle and income needs.
Keep Contributing
Consider contributing your knowledge and experience gainfully (in a dollar sense). Growing numbers of people are not retiring in the traditional sense, but are continuing to work part-time as consultants or launching entirely new ventures. Each option requires adequate retirement savings beforehand, but a second act can contribute income to prolong your savings.