Jay Kirkwood of Secure Financial Management discusses the five big retirement risks that individuals need to plan around. These risks include longevity, health, market volatility, family changes, and policy changes. He emphasizes the importance of having guaranteed income in retirement to mitigate the risk of outliving one's savings. Jay discusses the impact of health care expenses and the need for long-term care planning. He highlights the role of the stock market in retirement planning and the need to balance risk and growth. He also addresses the potential risks associated with family changes, such as divorce or the death of a spouse, and the importance of having a comprehensive plan in place. Lastly, Jay touches on the policy risks, particularly in relation to Social Security and changing regulations.

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