From Yahoo Finance: 2025-03-29 07:02:00

A successful retirement involves creating a reliable mix of income streams, not just saving money. Financial experts recommend diversifying income sources for long-term stability and peace of mind. Factors like cash flow needs and expected expenses should inform portfolio adjustments. Diversifying assets can prevent outliving savings and cover rising healthcare costs.

Combining guaranteed and liquid assets, like Social Security and stocks, creates flexibility for day-to-day needs and long-term goals. Evaluating all investment accounts before making changes is crucial. Tax planning, such as direct indexing and charitable remainder trusts, can provide tax benefits and help diversify income. Building a tax-smart plan protects your retirement lifestyle.

Fidelity’s study revealed the top three sources of retiree income today. Retirement planning requires diversifying income sources for stability in an uncertain economic landscape. Understanding financial goals and objectives is essential for rebalancing portfolios. Diversifying assets, tax planning, and smart investment decisions can help secure a comfortable retirement.

Read more: Fidelity Reveals Top 3 Sources of Retiree Income Today: Should You Diversify Yours?