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This, Saccaro said, can help you maintain your desired lifestyle without financial strain.
This could be Social Security, along with a pension or annuities.
Its critical to consider the consequences of your income stream choices i.e.
Saccaro recommended holding six to 12 months of living expenses in a liquid, accessible account.
Rather than hiding under the sheets hoping it wont happen, you must always be prepared for a recession.
This is especially important if youre eyeing retirement soon.
What would happen if there was a sudden market decline right when you retire in 2025?
said Justin Haywood, CFP, president and co-founder ofHaywood Wealth Management.
Ensure your portfolio can withstand such shocks without jeopardizing your financial stability.
This helps determine if your portfolio can still last under less favorable conditions, he said.
You must be prepared to tackle it.
But Medicare isnt a failsafe for all healthcare expenses.
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