A slogan in retirement investing holds that investors who reach a certain level of success are free to reduce risk. This podcast (7:09) suggests that this idea merits quantitative definition and practical implementation, to ensure that future retirees do not face the same sense of impoverishment as the Class of 2020, who have seen their portfolios plunge at the time their retirement has required portfolio withdrawals. Learn more about your ad choices. Visit megaphone.fm/adchoices