Mailbag: Should I change my asset allocation as I approach retirement?

HerMoney with Jean Chatzky

Jean Chatzky Her Money

Investing, Entrepreneurship, Business

4.8 • 1.3K Ratings

🗓️ 26 July 2024

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this Mailbag, Jean talks to Cecilia, a 58-year-old listener, about asset allocation and portfolio management as she approaches retirement. She has a defined benefit pension and government benefits, but also wants to draw down on her portfolio for the first few years of retirement. They explore the need to adjust asset allocation, the role of fixed income in your portfolio, and the importance of building a cash cushion for the initial years of retirement. Have a question for us or want to jump on a call with Jean? Write in at [email protected]. Join the HerMoney community! For the latest episode drops and financial news-you-can-use, subscribe to our newsletter at Hermoney.com/subscribe! Takeaways: Consider adjusting asset allocation as you approach retirement, taking into account fixed income sources such as pensions. Build a cash cushion to cover the initial years of retirement, reducing the need to sell investments at a loss during market downturns. Consult with a financial advisor to create a comprehensive retirement plan, including strategies for cash flow management and mortgage payoff. Evaluate the benefits of individual bonds versus bond funds, considering the potential volatility of bond funds and the security of principal with individual bonds. Chapters: 0:00 Introduction 2:11 Asset Allocation and Retirement Planning 5:13 Cash Cushion for the Initial Years of Retirement 8:02 Consulting with a Financial Advisor 11:00 Mortgage Payoff Strategies in Retirement 12:57 Individual Bonds vs. Bond Funds 15:00 Conclusion The HerMoney with Jean Chatzky podcast is sponsored by Edelman Financial Engines. The podcast team and its host are neither employees nor clients of EFE, however, the show does receive fixed compensation and is a paid endorser and therefore has an incentive to endorse EFE and its planners. To learn more about the sponsorship, please visit PlanEFE.com/HerMoney. Please contact [email protected] if you would like to advertise on our podcast, and to learn more about Airwave, head to www.airwavemedia.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	You're listening to an Airwave Media Podcast.
0:05.0	Are you on track for the retirement you want?
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0:27.7	That's 833 Plan EFE or Plan EFE.com. This offer expires July 31st, so don't miss out. Schedule yours today.
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0:59.4	co-deekk slash special offer or lower case. That Shopify dot co-deekk slash special offer all lower case that shopify dot co-de-k slash special offer
1:07.0	Hey everyone I'm Jean Chatsky thanks so much for joining me today on her
1:12.0	money where we talk about personal finance and how money touches everything in our lives.
1:17.0	Today we are bringing you an international mailbag all the way from Canada.
1:22.8	Cecilia is calling in from Vancouver.
1:25.4	She's got a question about asset allocation
	...

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