Retirees face many different risks. Three big risks that can potentially devastate your retirement security are:
1. What if I pick a bad year to retire?
2. Will my income keep pace with rising prices?
3. Will my income last my entire lifetime? It’s important to understand these risks, and to then think about ways you might try to plan for them.
The retirement landscape is changing, but one statistic from LIMRA stands out among all the rest: Only 14% of Boomers are confident that they will have a secure retirement. Many factors make it challenging to plan for retirement income, but without having a plan in place and a trusted advisor to help guide you along the way, it will be much harder to reach your goals and end destination in retirement.