Retirement planning has gone from fairly simple a few years ago to mind-bogglingly complex today. That means you must make investment decisions solid enough to provide income for many decades while remaining flexible enough to shift as your circumstances do.
It is a big change. “My grandparents had fixed pensions. They received the same amount of cash each month from the pension fund for the rest of their lives,” says Richard Rosso, director of financial planning at wealth management company RIA Advisors in Houston. The magic of managing the assets to make those payments possible was left to Wall Street. Now “the burden, more than ever, is on the individual,” he says.
