So Money with Farnoosh Torabi 1931: The New Rules of Retirement Planning. What Actually Matters Today
Jan 14, 2026
Christine Benz, Director of Personal Finance and Retirement Planning at Morningstar and author of 'How to Retire,' shares her expertise on navigating retirement in today's landscape. She emphasizes the importance of de-risking portfolios as you age and recommends a flexible approach to withdrawal rates. The discussion includes the need for personalized planning, especially for women, and the realities of long-term care funding. Benz also highlights the importance of crafting a meaningful post-work life, beyond just the financial aspects.
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Start De-Risking As Retirement Nears
- As you approach your 50s and 60s, shift part of your portfolio into safer assets like cash and short/intermediate bond funds.
- Use low-cost bond funds and keep an emergency cash buffer to avoid selling stocks after a market decline.
Vary Withdrawals Year-To-Year
- Treat the ~4% safe withdrawal guidance as a starting point and adjust annually based on portfolio performance.
- Reduce withdrawals after bad market years and consider increasing them as your time horizon shortens.
Use Targeted Financial Advice
- Get a second set of eyes on retirement plans for Social Security claiming, taxes, and filing strategies.
- Consider pay-per-engagement or hourly financial advice if you don't need ongoing portfolio management.
