ADVISERS put a considerable amount of effort into talking to clients about accumulating their life savings. But advisers and their clients tend to devote less thought as to how to spend that money when it's time. Some sort of conversation generally happens when clients approach retirement, but it may need to start happening earlier and become much more sophisticated.
"If I have US$1 million in my retirement account, how I'm going to distribute it is No 9 out of a total of 10 steps," said David A Littell, director of the retirement income certified professional programme at the American College of Financial Services.
Mr Littell has actually drawn up a list of 18 risks that people have to consider....
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