Core Insights - The transition from wealth accumulation to distribution during retirement requires careful consideration of personal preferences, risk capacity, and lifestyle needs [1][3] - Retirement planning is a multi-stage process, with a pre-retirement phase of three to five years for adjusting investments and mindset [1][3] Portfolio Structure - A retirement portfolio should reflect individual needs, lifestyle, risk tolerance, and financial resources, emphasizing diversification across various factors [3] - Assessing risk tolerance is crucial, as it may not align with the necessary risk to maintain purchasing power and growth [4] - A core portfolio should include low-cost, diversified index or exchange-traded funds (ETFs) across equities, bonds, and both domestic and international investments [5] Investment Considerations - For those with the capacity to accept volatility, adding speculative assets like gold and cryptocurrencies can provide growth opportunities [6] - The average life expectancy in the U.S. is approximately 80 years for women and 74 years for men, indicating that retirement can last 25 to 35 years, necessitating a balance of conservation and growth in funding [7]