Retiring soon? A three-bucket strategy may be just the ticket for your bucket list.

Retirees or those close to retirement face the challenge of managing their savings throughout their lifetime. Here, a well-thought-out bucket strategy—segmenting retirement savings into multiple buckets designed for specific time periods and risk levels—can provide growth potential and stability during retirement. With short-term needs covered by the first bucket, retirees gain peace of mind knowing they have funds set aside for essential expenses, regardless of market conditions. Implementing the bucket strategy in four steps Estimate expenses during retirement by calculating expected expenses over different time periods: immediate needs, medium-term needs, and long-term needs. Depending on your risk appetite, determine the asset allocation for bucket 1 and allocate retirement funds to low-risk assets like cash or short-term bonds, focusing on liquidity.