The shift from accumulating wealth to living off it is not a light switch. It is a rebalancing act that takes years, and it is one of the most under-discussed topics in personal finance. Most investors focus their entire lives on the accumulation phase — how much to save, what to buy, when to start — and arrive at retirement with no plan for the transition. The result is often one of two extremes. Either they panic and move everything to cash, sacrificing growth and losing ground to inflation. Or they stay fully invested in stocks, taking on dangerous volatility…
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