Five Steps for Increasing Retirement Income
Fidelity Investments modeled five steps that investors of all ages can use to increase their retirement income. The steps have varying impacts individually, but when combined, they have the potential to significantly increase retirement income.
The steps are:
1. Adjust Asset Allocation—A Fidelity survey of 2,800 investors found that most followed a portfolio allocation strategy that was more conservative than their age would dictate is appropriate. Investors born after 1964 (Generation X and Generation Y) stand to reap the biggest benefits from a more aggressive allocation because of their long investing time horizons.
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