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The Three Big Risks

Retirees face some big financial risks that can devastate their retirement dreams. A solid plan for creating monthly income should recognize this fact, and then seek to manage risks. 

Below is information about what we call The Three Big Risks: Timing, Inflation and Longevity. Seeking to manage these is a key to enjoying your retirement and making your income last.

#1 - Timing Risk

#1 - Timing Risk

Would you want to leave your retirement Plans to chance?

The reality is, that simply being unlucky in the timing of your retirement - just picking a year to retire that's a bad one for stocks - can be the difference between your income continuing for years and years, or running out early. Don't leave your retirement to good or bad luck.

#3 - Longevity Risk

#3 - Longevity Risk

Your strategy for creating retirement income should provide a "floor" of monthly income you can't outlive.

No retiree stops needing money.  So a good question to contemplate is, "How long could my retirement last?" Think about the oldest person you know? Are they over 80? over 90? The fact is, a married couple age 65 has a 25% chance that the surviving spouse will live to age 98!*

*Source: USA Today, For your retirement planning, count on living until age 95, 10/5/2016