Are you planning on retiring in the next few years? If so, you’ll want to create a retirement income plan.
First of all, while you’re still working, look for ways to boost your retirement income, such as increasing your 401(k) contributions. And you might want to explore products that can provide you with a lifetime income stream.
You’ll also want to estimate your expenses in retirement, including your health care costs, which can be considerable.
And it’s important to review your investment mix. As you near retirement, you may want to lower your portfolio’s risk level.