Retirement Risks
A good retirement income plan should consider the following retirement risks, among others, as a way to “stress test” your plan.
- Inflation Risk (Lost Purchasing Power)
- Longevity Risk (Outliving Your Money)
- Investment Management Risk (Market Volatility & Emotions)
- Liquidity Risk (Money Not Readily Available)
- Early Death of a Partner (Lost Income Sources)
- Increased Need for Health Care
- Extraordinary Expense Due to a Long-Term Care Event
- Sequence of Returns Risk (Timing of Withdrawals)
- Lack of Knowledge of Expense Needs and Limits (Bad Budgeting)
Solutions to minimize these risks and increase chances of a more successful retirement are available. Eslick Financial can show you how.