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When entering retirement, investment strategy typically shifts from a single, goal-based fixed time horizon to a multilayered, interrelated series of time periods.
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The stocks in the S&P 500 are classified by 11 sectors, each of which responds differently to market conditions.
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Holding stocks in companies of varied sizes through mutual funds or exchange-traded funds could help increase portfolio diversification.
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Beneficiaries who postpone claiming Social Security past full retirement age have the option of receiving a lump-sum payment for up to six months of benefits when they finally apply.