401(k) Millionaires: Here’s How to Avoid Going Broke in Retirement

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 (morningstar.com/personal-finance/your-7-figure…)

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 (podcasts.apple.com/us/podcast/new-etfs-are-lau…)

Why Playing It Safe in Retirement Can Backfire (podcasts.apple.com/us/podcast/why-playing-it-s…)
Why Do Active Funds Lag Even With Winning Picks? (podcasts.apple.com/us/podcast/why-do-active-fu…)

Follow Morningstar on social:

Facebook: facebook.com/MorningstarInc

X: x.com/MorningstarInc

Instagram: instagram.com/morningstarinc

LinkedIn: linkedin.com/company/morningstar

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.