Direct answer
Happy retirees prioritize creating reliable income streams, such as annuities or pensions, to cover essential expenses while keeping discretionary funds in liquid accounts. It depends on your specific risk tolerance and the size of your nest egg, but most successful retirees focus on minimizing debt before leaving the workforce.
Financial behavioral studies regarding retirement lifestyle satisfaction and long-term asset allocation strategies. For additional information about retirement satisfaction and financial behaviors, see the Employee Benefit Research Institute‘s research reports.
What this means for you
Happy retirees prioritize creating reliable income streams, such as annuities or pensions, to cover essential expenses while keeping discretionary funds in liquid accounts. It depends on your specific risk tolerance and the size of your nest egg, but most successful retirees focus on minimizing debt before leaving the workforce.
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