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Unconventional Investing Advice From a Retirement Expert

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Wade Pfau, professor of Retirement Income at American College and founder of, argues that the usual advice about investing in retirement — hold fewer stocks and stock mutual funds in retirement, and keep your stock holdings low — isn’t the best approach. Pfau agrees with one aspect of the standard advice: As you approach retirement, and at the moment you retire, you should be reducing risk, which translates into less of your portfolio invested in stocks and more invested in bonds.