You may be in trouble down the road if your image of retirement is one of unbridled freedom of time and money, especially if you’re living on savings. If your principal income is a pension (guaranteed for life), social security, and/or annuity distribution (guaranteed life income) you will have built in a a modicum of safety.
However, if you have built most of your portfolio on stocks, bonds, and mutual funds (including your 401(k)), you must be diligent to see that they are retaining or increasing their value over time. No one has a crystal ball, but you don’t need one if you learn to read signs – in this case, market reports, statements, and pay attention to trends around you.
Please read this article form CNBC to inform your opinion of next steps: 5 Crucial Retirement Years for Your Money.
And learn to take the guesswork out of your retirement as much as you can. That small change you make today could make all the difference tomorrow.