Falling investment values and low interest rates are on the minds of many baby boomers who are nearing or entering retirement. While few people’s financial situation is as secure as it was a decade ago, there are steps that soon-to-be retirees can take to minimize their risk of exposure during their final working years.

Here, a collection of top tips from independent financial advisors:

  • Move from equity-based funds to less risky funds in the three to four years leading up to retirement.
  • If you have already retired but have not yet begun drawing funds from your 401(k), consider doing so. Annuity rates are on a long-term downward spiral, and delayed withdrawals may only diminish your return.
  • Don’t rely on older numbers: ask for an up-to-date analysis of exactly what you are likely to get back from your 401(k) so you can plan accordingly.

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