The Biggest Risks You’ll Face in Retirement and How to Prepare
While nothing in life is certain — well, except death and taxes — as you enter your retirement years, you’ll face more uncertainty than ever before.
While retirement’s a time to relax, before you get there you’ll face risks that could derail your plans.
What if you outlive your money? What if you come down with a debilitating, and expensive, illness? Will your income keep pace with inflation? Will you have enough to live the life you want? If you choose or need to work, will you physically be able to? What if taxes go up? What if Social Security goes down? Will you have enough to pay for a nursing home?
Unless you’re very rich, these risks could threaten a comfortable retirement and impact the amount of money you’ll need.
So a large part of retirement planning is about confronting risks: considering potential problems in advance and preparing as best you can, mentally, physically and financially.
And that’s what this week’s “Money!” podcast is about. We’re going to talk about the biggest retirement risks and how to prepare for them. Because while it’s true that the only thing in life that’s certain is uncertainty, it’s also true that forewarned is forearmed.
Sit back, relax and listen to this week’s “Money!” podcast:
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A podcast is basically a radio show you can listen to anywhere and anytime, either by downloading it to your smartphone, or by listening online. They’re awesome for learning stuff and being entertained when you’re in the car, doing chores, jogging or, if you’re like me, riding your bicycle.
If you haven’t listened to our podcast yet, give it a try, then subscribe. You’ll be glad you did!
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