MANAGEMENT

Detailed explanation-1: -Solutions for Avoiding Running Out of Money After Retirement Contributing to a 401(k) or IRA can help set aside money for retirement and provide tax advantages. Most financial advisors suggest that people save 10-15% of their pre-tax income for retirement.

Detailed explanation-2: -Diversify Your Portfolio Having a diversified 401(k) of mutual funds that invest in stocks, bonds and even cash can help protect your retirement savings in the event of an economic downturn. How much you choose to allocate to different investments depends in part on how close you are to retirement.

Detailed explanation-3: -The data is only slightly better if you are living in retirement for 20 years-but even then a full 81 percent of the lowest income quartile and 8 percent in the highest income quartile will run out of money. Almost one out of ten of the very richest among us will run out of money in retirement? Yes!

Detailed explanation-4: -One frequently used rule of thumb for retirement spending is known as the 4% rule. It’s relatively simple: You add up all of your investments, and withdraw 4% of that total during your first year of retirement.