3 Accounts Retirees Need to Have Beyond a 401(k) and an IRA
As a retiree, you probably know that you're going to need some investment income to supplement your Social Security benefits. That's because Social Security is only designed to replace about 40% of pre-retirement income. Taking a 60% cut in pay compared to your income when you were working isn't going to make for a very fun retirement.
Most likely a good portion of your retirement money is going to be in a retirement plan such as a 401(k) or an IRA, and you'll make withdrawals from it over time. But beyond these retirement investment plans, there are a few other financial accounts you might need as well. Here's what they are.
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