7 steps on the road to retirement
Step One: Get to know the lingo
Clients have spent decades accumulating money in their investment accounts, and now they need to get to know the basic language of distribution. Thornburg suggests advisers familiarize their newly retired clients with the process of retirement and its key topics, rather than jumping in with product demonstrations. Retirees ought to understand principles such as longevity — what a longer life means for retirement income — and sequence of returns, or the order in which a retiree obtains income from various sources.
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