Once you need to start pulling money out of your retirement accounts to cover your costs of living, your relationship with your investments changes. Because you need to have readily available money to pay your bills, you can no longer be "all-in" on stocks or other volatile investments.

Instead, you have to have a balance between riskier assets to attempt to keep up your purchasing power for your longer-term future and less risky ones to handle those near-term costs. The trade-off, of course, is that the less risky an investment is, the less its potential return generally ends up being.

That need to maintain a balance while actively spending down your portfolio raises a key question: Should you rebalance your retirement portfolio by the end of the year or in 2024? That is an important question to ask, but there are many different factors that go into that decision. As a result, the choice of when to rebalance depends on your personal circumstances. Here are three key factors to consider as you make that choice.

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Source Fool.com