8 Best Retirement Moves of 2023: Advisors' Advice

Successfully planning for retirement is a long-term effort that requires many years of diligent saving and investing, and perhaps the most important piece of wisdom is to "stay the course." Indeed, experts warn that trying to time the market or take excessive speculative risk to get rich quick are two of the best ways to jeopardize retirement readiness. The better course is a slow and steady one that allows the power of long-term compounding to work to the individual's advantage. However, staying the course does not mean sitting idly by and passing up on shorter-term opportunities that may present themselves along the way. To begin with, there are estate planning decisions and growing children and aging parents to support. What's more, natural moves in the markets and shifts in investors' needs regularly require corrective action on the part of advisors and their clients, ranging from the need to rebalance drifting portfolios to the need to right-size risk-taking during different phases of the retirement saving journey. In fact, according to a group of expert advisors who responded to an inquiry from ThinkAdvisor, the economic and market environment of 2023 has presented key opportunities for retirement investors, and there are also various evergreen considerations. See the gallery for advice on the best retirement moves that advisors are making for clients in 2023. While each advisor serves a unique set of clients with unique needs, the range of insights should provide some useful information for any retirement-focused advisor.