Are you confident your retirement plan is built to last-or could there be a trap door waiting to open beneath your feet? 

In this episode, I shine a light on the hidden dangers that can derail your retirement.

Have you ever considered what would happen if your pension were suddenly cut in half? It has happened to retirees from major companies before, and it could happen again. I delve into real-life stories of people who thought they were financially secure, only to be blindsided by risks they hadn’t seen coming.

From unexpected inflation spikes (like a 27% jump in homeowners insurance) to concentrated investment risk in company stock, I explore about a dozen real threats that could jeopardize your financial future.

And let’s not forget the myth of “guaranteed” part-time work or inheritance that didn't happen; these are shaky assumptions that can crumble when life takes an unexpected turn. Too many people are flying solo, handling their retirement plans without a “copilot”, only to find themselves overwhelmed when tragedy strikes or a spouse becomes ill.

I also caution listeners about locking up most of their savings in complex products like annuities or whole life insurance without fully understanding the rules, restrictions, or penalties. But you don't have to manage your planning alone.

We offer free resources and a company willing to help you navigate these pitfalls. So, what’s your plan if the unexpected happens? Are you prepared, or are you just hoping for the best? It’s time to step back, assess your risks, and patch the cracks in your retirement foundation before it’s too late.

You will want to hear this episode if you are interested in...

• (00:00) Intro.
• (05:11) How a pension is a threat to your retirement.
• (07:34) How the cost of living and inflation affect retirement.
• (09:15) Concentrated investments like company stocks threat to your planning.
• (12:15) What assumed incomes could be a threat to your future funds?
• (15:34) Should life insurance policies and annuities be avoided?
• (17:44) Are you vulnerable to key-person risk? How we can help.

Resources & People Mentioned

• 3 Steps to Retirement Planning
• Why Some Retirement Products Can Trap Your Savings (and What to Watch For), Ep 187
• RetireStrong Financial Advisors | Financial Planner St Louis

Connect With Gregg Gonzalez

• Email at: [email protected]
• Podcast: https://RetireStrongFA.com/Podcast
• Website: https://RetireStrongFA.com/
• Follow Gregg on LinkedIn
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