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I’m
retiring next year: What do I do? Why selling your assets
to create a nest egg is not the best strategy
Retirement is a time when most people need to make
some big decisions. But while many retirees may want to sell off
their assets to create a nest egg, experts say that may not be the
best retirement strategy.
Selling off assets often contains penalties, which
make you less money in the long haul. With people living longer
today, it may be a better idea to let your investments grow. That
way, despite a fixed income, you’ll still have money growing to live
comfortably no matter how long you live.
When planning for retirement, consider the effect of
inflation and taxes. It’s a good plan to allow different
investments to accumulate money during different time frames,
spreading out taxes. You should also liquidate any investments that
aren’t going to pay enough income for you to enjoy life and make
sure you have adequate health insurance.