Most people work 35 to 45 years or more. It’s a long haul, and when it’s finally over, they deserve to enjoy their retirement. If they’ve been diligent about their saving and overall retirement planning, the fruits of their decades of labor can be quite rewarding.
Knowing how to navigate the distribution phase of retirement is crucial. And the first thing to know is that retirement planning doesn’t end on your last day of work — when the distribution phase begins. This is when you start using the savings and investments built up during the accumulation phase to supplement regular income from Social Security, pensions and other income streams while supporting your retirement lifestyle. And though this new stage of life you’ve worked so hard toward can be fun and liberating, the idea of spending money with no income from work can cause stress and worry. Did you save enough, and will it last long enough?
