The retirement planning process is different for everyone. It depends on your current career stage, financial goals, and expected retirement date. For late-career professionals, it’s important to consider your time horizon and risk tolerance, which will influence your investment choices. A short-term investment is one that is invested for less than three years. A long-term investment is one that is invested for more than 20 years. For most people, this time horizon will depend on their personal preferences and risk tolerance.

You can hire a financial planner like lucy wealth advisors to help you manage your money. You can find a financial planner online who specializes in Social Security, tax planning, and retirement withdrawal strategies. A financial planner who focuses on guaranteed income products is the best choice for anyone looking to maximize their investment returns.