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What to do in a dangerous year to retire
The year 2022 is a challenging one for those wanting to retire. Greg Iacurci of CNBC highlights a rare and worrisome combination for new retirees—stocks and bonds are down and inflation is high. “Sequence of returns” risk is acute for those who’ve just retired. Withdrawing money from investments declining in value stresses the longevity of their nest egg. The key is to manage the risk while giving investments time to recover. To that end, he recommends that seniors delay filing for Social Security to get a permanent bump in their guaranteed annual income. Recipients get a guaranteed 8% annual boost to benefits each year they delay claiming past full retirement age up to age 70. Full piece here.
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