Retirement Decisions & The Risks You Face

By Admin Prepare

February 9, 2018

As people retire and/or prepare for retirement, the two main staples of retirement are still as real as ever.  Those are to protect and preserve my hard-earned nest egg and receive as much income as possible from that nest egg throughout my lifetime.  Unfortunately though, everything about achieving these two main principles and how to accomplish them are changing, and will continue to change. And you are going to face several risks along the way.

While planning for retirement, you have to address many areas.  You have to make some tough decisions about how to save for retirement, medical insurance, how to properly invest, taxes, Social Security, estate planning, and many more.  To make it even more critical, many of those decisions are irreversible.  And if you make the wrong choice, it could have a trickle-down effect on your whole retirement plan.

On top of all that, you can’t rely on what worked in the past. Following outdated “rules of thumb” and traditional cookie-cutter approaches is the road to never retiring.  You also can’t travel the road of getting your retirement advice online, in books and magazines, and other places.  A lot of that information is outdated or just plain wrong. Don’t travel those roads.

You need to use strategies and tools that are different from those that worked for past generations of retirees. Retirement has changed and will continue to change.  Most importantly, you need to know how to deal with today’s main threats to retirement security.