Break investing into phases to prepare for retirement
A couple of months ago, Sharla Jessop of Salt Lake-based Smedley Financial Services helped me answer a reader's question about investing during retirement. She stressed the importance of saving "pockets" of money for different times.
I liked her advice, but I don't think I allowed her to go as in-depth as I should have.
Thanks to a new question, I'm going to revisit the issue today.
James, age 70, sent me an e-mail in late March, asking how best to invest his money for the short term.
"Everyone is giving advice of what to do for the long term, but what about those of us who need some money to live on? The government is doing everything it can to lower interest rates, which is really hard on retired individuals," he wrote.
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