The flooring approach is a retirement strategy that uses guaranteed income sources, like Social Security, pensions, or annuities, to cover essential expenses. This creates a stable “floor” of income ...

Christine Benz, Morningstar’s director of personal finance and retirement planning, recommends the hybrid approach. “The idea here is that you’re kind of splitting the difference between the two ...

At 60 years old with $2 million saved, you can safely say that you are in a good position that most people will never reach. At this point, the question in your mind should shift from whether you have ...