Core Insights - The article emphasizes the importance of planning for retirement by projecting the potential value of a 401(k) portfolio and considering various strategies to ensure financial stability throughout retirement [2][3][24] Retirement Planning - Investors nearing retirement should anticipate their 401(k) value and consider ongoing contributions to maximize their portfolio [2][3] - A 59-year-old with a $1.3 million 401(k) could face challenges with a 4% withdrawal rate, generating only $52,000 annually, which may not be sufficient for long-term needs [7][13] Longevity Risk Management - Managing longevity risk is crucial, as retirees must ensure their portfolio lasts throughout their lifetime [4][24] - Income-based investing is suggested as a strategy to create a sustainable income stream without depleting the principal [14][24] Social Security Considerations - Social Security benefits can significantly impact retirement income, and strategies to maximize these benefits include delaying claims and increasing lifetime earnings [10][11][12] - Understanding the tax implications of Social Security and retirement account withdrawals is essential for effective financial planning [20][23] Investment Strategies - Rolling over a 401(k) into an IRA can provide more investment options, including private assets that are less correlated with market fluctuations [15][16] - A diversified asset allocation strategy can help manage longevity risk and ensure a balanced portfolio [27]