[Alberta's Child]

Actually, moving all your money into "safe" investments as you approach -- or even pass -- retirement age is not a very good idea. Someone who retires at 65 or 70 stands a good chance of living for another 20-30 years, and one of the biggest risks that person faces is outliving their retirement funds.

So a portion of your retirement funds should always be allocated to investments with a 20+ year time horizon. This portion should diminish over time as a retiree ages and needs to become more concerned about safety than growth potential, but good financial advisors will often have their clients keep a small portion of their money in high-risk investments even into their 90s.

[wmfights]

Actually, moving all your money into "safe" investments as you approach -- or even pass -- retirement age is not a very good idea.

I disagree. You never risk your retirement. You alter your lifestyle to reflect what you have put away. If you didn't sacrifice for the day you would retire then you live with the consequences.

[nufsed]

I disagree. Basic retirement income should be in something fairly conservative, safe with a good rate of return and tax free. Also, set up for at least a 40 year payout and assume that the cost of living will double double twice in a 36 year period. Here's one with an 11 year horizon: Indexed Universal Life Insurance.