Retirement planning solutions should minimize six MAJOR risks to retirement income
Retirees face many financial risks to their retirement income. However, there are six major risks to retirement income that can be minimized by implementing proper retirement planning solutions. These financial risks are unique, but in many ways are interrelated. For example, longevity risk (outliving your money) also means having a risk of higher healthcare costs than someone who lives a statistically normal lifespan. Similarly, a retiree who is withdrawing assets for income in a down market is also impacted by inflation as inflation further erodes their spending power. It important to recognize these risks change also change over time (i.e. tax rates).
The six major financial risks are outlined below. First, click the links below to learn more about the risks. From there, you will be able to learn how good retirement planning solutions help mitigate these risks.