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Your Financial Decisions at Retirement

For many investors, retiring can be a very challenging financial transition. To avoid potential costly mistakes at retirement, here are a few suggestions that can help with planning.

Take an Inventory: It's important to assess all your assets and subtract all your debt to obtain your net worth. That will help you create realistic financial objectives and plan an investment strategy to help enhance your golden years.

Properly Diversify: Finding a comfortable balance of investments for your portfolio during retirement can help you meet your financial needs and possibly reduce the impact of market volatility. You should plan for a retirement of 20 to 30 years, depending on your age and health.

Distributions from Retirement Plans: In most cases, a retiree can elect to receive a lump-sum payout, roll the amount over into an IRA, or receive the money via periodic payments over a specified period of time. Before you decide, consider factors like your age, health, other resources, your tax situation and what to do with retirement assets.

Estate Planning: A well-conceived estate plan is essential to help ensure that your wealth is passed along as you intend.

To learn more about managing your assets for retirement, contact your financial advisor.

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