The unfortunate reality is that plenty of retirees recently found themselves in that very situation. In The Grangaard Strategy: Invest Right During Retirement, CPA and financial educator Paul Grangaard shares his approach to preventing similar retirement investment losses while building a dependable stream of income.

Grangaard has spent years educating financial professionals about his strategies so that they can help clients manage their retirement investments better. One of his most basic principles is that we can't know how much we'll need to save for retirement until we know how we'll manage our money after we retire. It's easy to make dangerous mistakes, he warns, when you don't have a plan for your "spending" years.

Grangaard's 12 principles for retirement investing include diversifying your portfolio, selling investments with care, creating dependable income and planning for your future fully expecting to outlive the average life expectancy. Investors can use his asset management theories before they reach retirement. He stresses the importance of staying flexible when faced with unforeseen circumstances and gives detailed instructions for creating an individualized retirement plan. He even offers helpful guidelines for selecting and working with a financial adviser if you want assistance developing and implementing your financial plan. Although I don't completely agree with his frequent though understated suggestion that investors should rely on a professional adviser's help.

The Grangaard Strategy is an excellent, comprehensive resource for both current retirees and investors concerned about the best ways to prepare for and thrive during retirement. If you're looking for a clear and well-reasoned plan to create dependable income while accounting for the effects of inflation and taxes, The Grangaard Strategy is worth exploring. Paul Grangaard has persuaded me to incorporate it into my financial plans.