The Top 3 Risks in Retirement
What is the essence of financial planning? At its most basic level, it’s really all about risk management. This is true about any kind of planning, really. Whether you’re planning a vacation, a wedding, or a big project at work, it’s the risk side that gets the most attention. The greater you feel your potential risks are, the more detailed your plan is likely to be. When it comes to retirement, people often face more risks than they did during their working years. And while there are probably a dozen or more different types of risk that retired people face, most of them can be placed into three distinct categories: living too long, dying too soon, and getting sick along the way.