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When it comes to retirement planning, there are a few items that you can safely put in the “settled business” pile. In this era of ultra-low yields, for example, it’s a given that most retirees will need to have ample equity exposure if they want their portfolios to last. The current low-interest-rate environment also means that most retirees will need to derive some of their cash flows from trimming appreciated holdings rather than relying exclusively on income distributions to meet their living expenses. A shrinking share of retirees will be able to rely on pensions, which embellishes the value of delaying Social Security for many.