Why you need to understand risk and uncertainty when planning for retirement
When retirement planning, you need to consider that it is not a one size fits all plan, and you often have to make adjustments due to risks. Typically, financial planning will take into consideration investment returns, inflation and retiree spending and assumes a lifespan of 90. However, risks are not limited to this list, and can also include jobs, divorce, disability or death. For better retirement planning, it is advisable not to take a set it and forget it attitude and instead review your plan more often and make adjustments along the way.
“The ‘Risk’ of Ignoring Risks in Retirement Financial Planning” may be of interest to retirees, those approaching retirement, and the advisors who advise them both.”