Northwestern Mutual

Financial Strategies When You're 5 Years from Retiring

Learn what you need to be doing when you're five years from retiring.

When you are five years from retirement, a major mental mindshift should start taking place. Most people think of dialing back on investment risk, but this is really the time to begin thinking about how you will turn your retirement savings into your retirement paycheck–which accounts do you pull from and when? Which ones are taxed, which ones are you required to pull from? This is where the strategy of focusing on accumulation changes to distribution.