New Delhi, March 26 -- When you turn 60, it is more than just a birthday; this day signals a change of guard and can be considered a financial milestone. Your focus should now shift from building wealth to conserving and preserving it. The main objective after turning 60 should be to generate a steady flow of income.

Smart asset allocation is fundamental to enjoying a stress-free, comforting retirement. Proper planning and paying attention to important expenses, such as inflation, unexpected medical costs, or market-related volatility, are imperative as they can easily eat into your hard-earned savings.

Once an individual turns 60, they cross over from their earning age; this is why at this age, your portfolio must be prepared for balan...