At The Money: Planning Your Retirement?

In this episode of "At the Money," Barry Ritholtz interviews Christine Benz, Director of Personal Finance and Retirement Planning at Morningstar, about retirement planning. Benz emphasizes the importance of defining purpose in retirement beyond just financial aspects, suggesting people start planning around age 50. The discussion covers various retirement income sources, including maximizing Social Security benefits and using income annuities, while cautioning against solely relying on bond and dividend income. Benz advocates for a dynamic, total-return portfolio approach and introduces the "bucket approach" for organizing retirement portfolios, involving cash reserves, fixed income assets, and globally diversified equities. The conversation also explores the benefits of working part-time in retirement for both health and financial reasons, advising gradual transitions and cognitive self-assessment.