When discussing the difference between the accumulation and distribution phases of retirement, the classic metaphor used by financial professionals is an ascent up a mountain, with the climb being arduous and the descent being an easy, measured slide down a steep slope. While this metaphor does provide a useful mental image for retirees, it also implies (wrongly) that the trip down the mountain is effortless.
In reality, the distribution phase of retirement can be the most challenging, especially if the retiree hasn't taken into account how they will spend their money. In this article, we'll explore how to make the distribution phase of retirement work for you and discuss points to consider with your financial planner to ensure a high-quality retirement.