Don't Mistake an Investment Portfolio for a Retirement Strategy
Saving and investing is the easy part of the retirement equation. Preserving your assets through volatile markets while drawing an income off them takes a real plan.


Remember when you were young and “retirement strategies” meant dreaming about which activity you’d try first — golf or gardening or travel?
Now that you’re older, you should know: True retirement strategies are about figuring out how you’ll maintain a steady income and making your money last so you can hopefully enjoy those things you’ve dreamed about.
You may not miss working after you retire, but you probably will miss your paycheck. Believe it or not, the accumulation phase of life, saving and investing, is the easy part. Preserving your assets through up-and-down markets — as well as the unavoidable expenses that come with getting older — makes having a solid income strategy a retirement requirement.
From just $107.88 $24.99 for Kiplinger Personal Finance
Be a smarter, better informed investor.

Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Find Out What You’re Going to Need
You may have gotten investment guidance through the years from one trusted professional or, perhaps, several. But as you move toward retirement, it’s vital to find a professional who can help you put together a strategy aimed at providing the monthly cash flow you’ll need for the lifestyle you desire for as long as you live.
First, you need to know your budget, or what you’ll need each month to have the retirement you want. Hopefully, you’re already projecting and tracking your monthly expenses, and conscientiously saving for the unexpected. But it becomes even more critical when you need to replace your paycheck.
That’s getting harder all the time, with pensions going away, interest rates at historic lows, inevitable market corrections and, of course, inflation.
Get an Income Strategy Going
The next step is to put together a carefully thought-out strategy.
You’ll definitely want to analyze your current portfolio’s risk levels and then adjust your allocations accordingly — lowering your risk if you’re invested too aggressively and diversifying yourself in different asset classes. The top performers tend to change from year to year — from stocks to bonds to real estate or commodities. Losing ground when you’re in the distribution phase could crack your nest egg, and diversity can help protect you in a tough market.
You may also decide that you want to create a strategy that incorporates insurance and annuity vehicles to give you consistent monthly income throughout your retirement. Your adviser can walk you through this and go over all your different options.
Ponder All the Permutations
As you work on developing your strategy, make sure he or she is putting your retirement income strategy on paper — and doing it in a thorough way that you can understand.
Are you taking care of your parents? Are you taking care of your children or grandchildren? Do you have health problems? Life is rarely chocolate and vanilla — your strategy should speak to all your needs and change as your life changes. Don’t settle for a template. And don’t mistake a portfolio for a strategy.
Finally, when you are deciding on a retirement professional, look for someone who has a fiduciary responsibility to you. This should be an advice-driven relationship, with a professional who has a long-term vested interest in your success. Don’t settle for less.
Kim Franke-Folstad contributed to this article.
Investment advisory services offered through Global Financial Private Capital, LLC, an SEC Registered Investment Adviser.
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

Bryan S. Slovon is founder and CEO of Stuart Financial Group, a boutique financial services firm exclusively serving retirees and soon-to-be retirees in the D.C. metro area. He is an Investment Adviser Representative and insurance professional focusing on retirement planning and wealth preservation to a select group of clients. (Advisory services offered through J.W. Cole Advisors, Inc. (JWCA). Stuart Financial Group and JWCA are unaffiliated entities.)
-
These Stocks Dipped in 2025. Do They Have Value?
If you are looking to add new long-term positions to your portfolio, as you should, this is the time to examine stocks that the market shuns.
-
Striking Gold (or Gas): A Financial Pro Unpacks the Nuances of Energy Investing
Investing in the energy industry, particularly oil and gas, involves understanding the facts about how projects generate returns through cash flow and long-term asset building, while also being aware of the risks.
-
Striking Gold (or Gas): A Financial Pro Unpacks the Nuances of Energy Investing
Investing in the energy industry, particularly oil and gas, involves understanding the facts about how projects generate returns through cash flow and long-term asset building, while also being aware of the risks.
-
Escaping the New Golden Handcuffs: A Financial Expert Has a Plan for Today's Executives
Feeling stuck in your job? It could be your complicated compensation package, but it also could be where you live, your family or even how you view yourself.
-
I'm a Financial Planner: Here's How to Invest Like the Wealthy, Even if You Don't Have Millions
Private market investments, once exclusive to the ultra-wealthy and institutions, have become more accessible to individual investors, thanks to regulatory changes and new investment structures.
-
Four Ways a Massive Emergency Fund Can Hurt You More Than It Helps
Saving too much could mean you're missing opportunities to put your money to work. Redirect some of that money toward paying off debt, building retirement funds, fulfilling a dream or investing in higher-growth options.
-
I'm a Financial Planner: How to Dodge a Retirement Danger You May Not Have Heard About
Timing is everything, and sequence of returns risk can mean the difference between a retirement nest egg that's overflowing … or empty.
-
Caring for Aging Parents: An Expert Guide to Easing the Financial and Emotional Strain
Early conversations, financial planning and understanding the progression of care needs can help to mitigate stress and protect family relationships.
-
I'm a Financial Adviser: The OBBB Is a Reminder for Older People to Have a Long-Term Plan
The new tax bill presents a good opportunity for retirees to revisit tax plans, look into doing some Roth conversions and consider plans for long-term care.
-
I'm an Insurance Expert: This Is Exactly Why Your Insurance Rates Are Soaring (and What You Can Do)
A dramatic rise in the frequency and cost of severe weather and wildfires means you need to prepare, prepare, prepare — no matter where you live — for higher premiums.