Retirement is When It All Comes Together
You're embarking down an exciting new path; let's make sure you're ready for it!
Retirement marks the end result of countless years of dedication, consistent saving, and meticulous planning. Yet, transitioning from a career and savings-oriented lifestyle to one focused on leisure and personal satisfaction, with a spending mindset, can be unexpectedly difficult. This shift demands effective risk management strategies and the pursuit of new sources of purpose and meaning.
To help ensure a long, successful retirement, we have to account for the major risks to your retirement.
The Major Retirement Risks
People are living longer and longer – which is great, of course! But a longer retirement equates to every major retirement risk getting amplified, all leading to an increased chance of running out of money.
Source: U.S. Life Expectancy 1950-2024. www.macrotrends.net. Retrieved 2024-04-29.
The Five Risks to Your Retirement Portfolio:
- Tax Risk: Strategic withdrawals can optimize your tax position, transforming the tax code into an ally to preserve your retirement savings.
- Medical Expenses: Most bankruptcies occur due to medical bills; let's make sure you have the coverage necessary .
- Inflation: Inflation can silently diminish the buying power of your savings; a robust plan ensures your retirement funds keep pace with rising costs.
- Longevity Risk: Outliving your resources is a modern-day reality; we'll design a plan that aims for your money to last as long as you do.
- Sequence Risk: The timing of returns matters; we strategize to mitigate the risk that early retirement losses have a disproportionate effect on your portfolio's health.
The State of Retirement In America
The numbers reveal a stark reality: retirement, a phase meant for relaxation and fulfillment, is becoming a source of stress for many. With rising healthcare costs and living expenses, a strategic approach to retirement savings and income is more important than ever to secure the comfort and stability that every retiree deserves.
| Retirees expecting to rejoin the workforce | 12% | WTOP News |
| Single adults 75+ affording housing & care | <15% | NLIHC |
| Retirees struggling with living expenses | 44% | Clever |
| Retirees carrying debt | 71% | Yahoo |
| Baby Boomers reliant on social security | 41% | The Motley Fool |
| Retirees who believe savings will be outlived | 48% | Clever |
| Retirees with no savings | 37% | Clever |
Is Your Retirement Plan On Track? Let's Make Sure Together.
Whether you want to review an existing retirement plan or start from scratch, we can help. If you’re at square one, we’ll build a comprehensive plan tailored to bring your retirement dreams to fruition, all while navigating the risks that could stand in your way. If you already have a plan, we’ll make recommendations to ensure you’re on the path to a stress-free retirement.