Episode Details

Becoming a 401(k) millionaire can require decades of hard work and sacrifice. Previously, a seven-figure nest egg shined as the gold standard among retirement planners. But the shine has dulled as a portfolio of that size no longer guarantees the same security. What steps should you take to protect your savings and avoid going broke in retirement? Sheryl Rowling has a list of tips. The certified public accountant is the editorial director of financial advice for Morningstar.

Your 7-Figure Retirement Fund Might Not Stretch As Far As You Think. Here’s How to Change That

On this episode:

00:00:00 Welcome
00:01:20 Why seven-figure retirement portfolios need extra planning finesse
00:01:58 Why the retirement-to-RMD window matters
00:03:40 How taxpayers can approach the new SALT deduction
00:04:50 Building a cash bucket for market downturns
00:06:15 Retirement money missteps worth avoiding
00:09:41 Shifting asset allocation and key takeaways

Watch more from Morningstar:

New ETFs Are Launching Fast. Proceed With Caution

Why Playing It Safe in Retirement Can Backfire
Why Do Active Funds Lag Even With Winning Picks?

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