Retirement planning is complex as fewer retirees have pensions. Decisions such as managing taxes, required minimum distributions, and asset allocation are crucial. Three tricky choices include withdrawal rates, long-term care insurance, and annuities. Flexibility, maximizing nonportfolio income, and creating an action plan are key strategies for retirees. Long-term care insurance and annuities present challenges due to rising costs and market issues. Annuities offer lifetime income but may not be suitable for all retirees, depending on their financial situation and needs.

Read more at Yahoo Finance: 3 Tricky Decisions for Every Retirement Plan