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An efficient portfolio typically focuses on both income and price returns, said certified financial planner David Blanchett, head of retirement research at PGIM, the asset management arm of insurer Prudential Financial. "It really depends on that retirees' perception of how they're going to access their savings to fund their retirement spending," Blanchett said. Higher yields are doing the heavy lifting Generally, the rule of thumb is to withdraw about 4% of your portfolio a year during retirement. His firm uses the Dodge & Cox Income (DODIX) fund and BlackRock Strategic Income Opportunities (BSIIX) fund. "If you have a diversified portfolio, in theory, you can actually get higher income over time as the companies that you own pay out higher dividends," he said.
Persons: David Blanchett, who's, Blanchett, Barry Glassman, Glassman, Brandon Goldstein, " Goldstein Organizations: Prudential Financial, Treasury, Wealth Services, CNBC, Dodge, Cox, Prudential Locations: PGIM, North Bethesda , Maryland, BlackRock
In fact, 46% of millennials and 48% of Gen Z say spending on friends' and family members' weddings, baby showers or other celebrations is getting in the way of their personal goals, according to a recent survey from Prudential. The younger generations were far more likely than Gen X and baby boomers to say weddings or other events are affecting their personal money goals, which include owning a home or having kids. Even young people who have been able to build up some savings report using that money more frequently than other generations. The survey also found 39% of millennials report having no emergency savings, and half say they regularly run out of money and have to rely on credit cards or family for financial support. Millennials lose sleep over money troubles, but aren't turning to budgeting
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