Pat Ginefra, a financial advisor from Delaware, says a long-term bull market means most people are in a better position today than they were 12-plus years ago, but we have rising inflation. He says it’s important for retirees to have a plan for rising costs factored into their retirement strategy. Everyone has a different time horizon that is critical when figuring out the best place in your portfolio to generate yield. Pat believes everyone needs a separate income plan in place that won’t lock in losses when the market is down. He also stresses knowing your risk tolerance level and understanding how important saving on taxes is to a solid retirement plan.

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