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This can be a daunting shift to make, so to help ensure a successful transition, it's crucial to manage primary risks, such as:

📌 Market volatility: Avoid withdrawing from investments with shrinking values during economic downturns. Diversify your investments to improve their chances of recovery.

📌 Inflation: Consider using an inflation calculator to estimate its impact and protect your retirement fund from tax liability.

📌 Taxes: Shift your retirement savings from tax-deferred accounts to Roth accounts strategically, as tax rates tend to rise over time. This can reduce your future tax burden and allow your funds to grow tax-free.

📌 Sequence risk: Be cautious about withdrawing funds from retirement accounts during bear markets, as it can significantly impact your retirement savings. Explore options like annuities or life insurance with income riders to mitigate this risk.

You may find – like many of the families we meet with – that the distribution phase of retirement is often the most challenging. However, it can be greatly simplified by focusing on a handful of key risks.