re: Investing or Savings at Retirement

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Once you retire (assuming you had $2m or so), would you continue to leave in investments, knowing it could make or lose money, or would you want all funds in a standard savings account (which would be less risk but much much lower returns)?

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It's not that simple, and significant savings accounts for long term retirement is a non-starter. From experience, the first thing is to understand taxation of investments and how you can best utilize your assets for maximum after tax returns. 60/40 remains the all weather portfolio, but you don't need to have the 40% in all bonds and cash either. Our portfolio is roughly 45% taxable and the rest is IRAs/Roths/HSA, plus investment property. For 2021 we were able to offset roughly $20k in net commercial rental income with other tax favorable distributions, this helps keep taxable income within guidelines for low cost or free health insurance premiums as we are years from Medicare. Our portfolio throws off a lot of income in tax advantaged accounts comprised of dividends, other distributions and capital gains, and due to having 6 figures of tax loss carry forwards in taxable I can sell appreciated stocks at no tax cost. If you are nearing retirement consider adding leveraged CEFs when valuations are favorable, and most don't like MLPs, but the distributions and tax offsets have been very helpful in providing income while offsetting current taxation. I believe many "investors" would benefit from from reputable fee only CFPs to help them plan to set up long term tax efficient positions early as if your shite isn't positioned properly you will lose out over the long run, especially if tax rates increase significantly.