The LEARNING library

Protecting Your Nest Egg in the Retirement Hazard Zone

In a May 2023 Kiplinger article, Chris Abeyta, in discussing the transition from asset growth to income and protection, warns us of the “Retirement Hazard Zone” – the four to five years right after the pivotal age of 59½ that can greatly impact the rest of your retirement. In essence, Abeyta cautions readers to take action to protect their nest egg from significant losses while still growing it. Part of this equation deals with the reality that, for some, they need to take income from their portfolio. For others, it’s about the need for greater preservation as their mindsets have changed. And for a few, it’s about strategic allocation and utilizing diversification to its maximum potential while limiting downside risk in a volatile market environment.

Regardless of your situation, on today’s show we will discuss the “why” and “how” of the three phases of your retirement journey. Next, Heidi will discuss the IRS RMD (required minimum distribution) waiver for non-spouse beneficiary IRA accounts, as well as a 60-day rollover relief option for traditional IRA RMDs taken inadvertently because of the newly incepted age change to 73. You were probably thinking that no changes were in store after all the adjustments that were made recently, but these are to cover for individuals needing to catch up with the new rules. Last, Nathan, who is filling in for Deann, will give us the best of stats to help us along on the journey and pinpoint more economic and retirement reality.

Tune in and take control!