Are you planning for retirement all wrong? Money Not Math 110

The biggest risks in retirement and the mistakes we make when planning for them

The 5 big retirement risks

· Longevity risk — the risk you’ll outlive your money

· Market risk — the risk of volatility in the stock market and housing market

· Health risk — the risk of unexpected medical expenses and long-term care needs

· Family risk — the risk of things like divorce, the death of a spouse or partner and adult children becoming ill or unemployed

· Policy risk — the risk of the Social Security Trust Funds’ insolvency, leading to a 20% to 25% reduction in retirement benefits if there are no policy changes

What people fear most vs. the reality

The longevity goof we make

Market risk: Real, but not as bad as you may think

How stable lifetime income can help

- “Congress Set To Pass SECURE Act At Last Minute, Impacting Retirement Planning And Increasing Taxes.” Money Not Math https://youtu.be/0Bv-QVAc97c

Planning for health risks in retirement

What are YOU worried about?

I’d love to know: What retirement risks are you most worried about, and what are you doing about them?

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Article referenced: https://www.marketwatch.com/story/you-may-be-planning-for-retirement-all-wrong-11660769394

Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.

YouTube: https://youtu.be/zCtYG15jtCo