Should I Manage My Own Retirement Account After Retiring?

When approaching a retirement from a long and successful career, you'll likely have a list of big decisions to make in a relatively short time. One of those decisions will be whether or not you should manage your retirement account(s) on your own after retiring - when you begin to convert them into an income stream to support your lifestyle. This is opposed to looking for outside help from a professional such as a financial advisor or planner, and it's a decision that comes with both pros and cons. However, before you decide, I think it's important to understand what you may be getting yourself into since spending and distributing your retirement savings is much different than saving for retirement. More specifically, I discuss: What does it mean to manage your own retirement savings? What common tasks and expertise does managing your own retirement account(s) entail? What are some of the pros and cons to the "do it yourself (DIY)" approach to investing? Common examples of costly retirement mistakes, even when it feels like you're making money Should you take on the responsibilities of investment management and retirement planning or seek help? Resources: Access Show Notes and Sign Up for the Retired·ish Newsletter HERE Start Your Complimentary "Jump-Start" Retirement Analysis Here Ask Cameron A Question!   Chapters: 00:00 Managing your own retirement accounts: what's involved. 05:21 DIY investing can save direct costs but may have larger indirect costs. 09:55 Having accountability from a 3rd party may yield better outcomes. 13:57 Market drops can cause panic, lifestyle, and strategy concerns. 16:24 Have a plan to mitigate potential retirement risks and changes throughout life. 20:45 Examples of costly investment mistakes that feel like wins. 27:09 Managing your investments in retirement is not what you expect it to be.