Many retirees discover that saving for their golden years was the easy part. The challenge is making sure their spending rate avoids depleting their nest egg.
A growing movement in the mutual fund world is working on solutions for that conundrum. While just a handful of so-called retirement income funds are currently available, financial advisors say the lineup of offerings is worth exploring.
"They can be a good solution for do-it-yourself or [nonprofessional] investors," said Dana Anspach, a certified financial planner and CEO of Sensible Money.