Summerlin Benefits Consulting Q&AAnswer
Oct 17, 2024 - 10:47 AM
If you're unprepared for retirement, you face several significant risks:
-
Underperforming Investments: Withdrawing from accounts that aren't performing well can exacerbate losses, making recovery harder. Diversifying your portfolio and consulting a financial professional can help.
-
Longevity Risk: Living longer than expected increases the likelihood of depleting your savings. It's crucial to factor in unexpected events and market fluctuations in your planning.
-
Balancing Risk and Reward: Finding the right balance between growth and safety in your investments is challenging but essential. Strategies like Fixed Index Annuities can provide stability and potential growth.
Being proactive and seeking professional advice can mitigate these risks, ensuring you have a sustainable income throughout retirement.
