Now that you are close to retirement, you need to take a hard look at your investment strategy.  Yes, it’s time to get more conservative, but one of the biggest mistakes you might make is being too conservative.  You may have many years left in retirement, so your portfolio must keep pace with inflation.  If your portfolio is too conservative, you may expose yourself to inflation risk. As a result, your focus will now be shifting from primarily growth investments to investments that generate both growth and income.  Your goal is also to have less volatility in your portfolio.  Meeting the goals of growth and income and less volatility may require that you gradually reposition your current holdings.

In addition to your investment holdings, it's a good idea to establish an emergency fund of approximately three to six months of living expenses.

>> Generating Monthly Income
>> Generating Income
>> Sources of cash during retirement?
>> Social Security
>> Pension Plans
>> Personal Savings
>> Protecting Your Cash in Retirement
>> Sources of Cash
>> Determining Your Expenses in Retirement

Learn From Their Stories

>> Empty Nesters - Paul & Julie
>> About to Retire - Steve
>> Living in Retirement - Anna

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