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Financial Planning

Making It All Work

Tips to help your retirement-spending plan run smoothly.

Here are some tips to make your retirement-spending plan run smoothly:

  • Keep at least six months' to one year's worth of funds in a money-market account and other liquid investments to draw on for living expenses.
  • Consolidate investments in a cash-management-type account, such as a SchwabOne account. That makes it easier for you and for your heirs.
  • Organize information about your finances. Books such as Everything Your Heirs Need to Know (Dearborn Financial, $19.95) or computer software such as Personal RecordKeeper (Nolo Press, $35.97) can help.
  • Finally, review your entire plan at least once a year or when there is a death, divorce, new tax law or major change in the stock market.

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