How to Fill that Hole in Your Retirement Income

Now that COVID-19 has officially changed everything, let's talk about how you can maintain as much of your retirement income as possible.

The combination of factors we have witnessed is almost overwhelming.

1. The stock market is down 20% to 30% from the beginning of the year.
2. The bond market is flat or down and not offsetting the stock market losses.
3. The yield on 10-year Treasuries is down to below 1%.
4. Taken together, a typical IRA or 401(k) account is down 15%.

If you were planning on drawing down your savings at the rate of, say, 4% a year -- or $40,000 on a $1 million IRA --