Review and adjust
A smart saving and investing strategy includes reviewing the allocation of your assets periodically to make sure they are still aligned with your goals. Because your goals in retirement shift from growing your savings to spending your savings, your asset allocation strategy may need to be adjusted to reflect your new priorities.
More conservative investments that help to preserve your retirement savings while providing income in the form of dividends or interest include:
- Government bonds
- Corporate bonds
- Treasury notes
- Fixed-interest vehicles (such as short-term money market investments)
Remember, however, that your investments still need to keep pace with inflation, so it's important to find an asset allocation mix that meets your income needs and provides a hedge against inflation.
