KEY TAKEAWAYS:

Lifestyle choices impact retirement security beyond savings totals

Working part-time can extend income and delay Social Security

Flexible spending strategies improve portfolio longevity

Retirees must balance lifetime spending with leaving a bequest

“Will your money last?” isn’t the only question to consider before retiring.

I was chatting with a friend the other day about his retirement — possibly an early one. At age 60, he has worked hard and invested well — and he’s burned out.

He’s received wonderful guidance from his financial advisor, with whom he’d discussed the viability of his investment portfolio. But as he and I talked, it was clear that the key inputs were more nuanced than his portfolio value and asset allocation. There were lifestyle decisions, too.

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