According to the Government Accountability Office (GAO), the median retirement savings for Americans in their 60s is just $148,000 including employer-sponsored and individual plans.
With the average life expectancy of a 67-year old reaching 84-years old, none of these scenarios is good. You either live on next to nothing or you run out of money early.
The Bucket Approach is one of the most popular retirement investing strategies. The idea is that you set up your total investments in three accounts, each with different investments, to provide for cash flow and growth.
The Matching Strategy for retirement investing is slightly more conservative than the bucket approach. This strategy directly matches your living expenses with fixed-income investments to virtually guarantee you have enough to pay for retirement.