10 Steps To Disaster-Proof Your Retirement Years
How to recession-proof your retirement years
Retirement Risks We Should Address
1. Living too long and running out of money
2. Recession/stock market decline that reduces the value of retirement savings
3. Inflation eroding the value of fixed pensions and fixed investments
4. Dropping interest rates resulting in reduced interest income
5. Poor health and resulting high medical bills
6. Potentially ruinous bills for long-term care expenses
7. Reduction in needed wage income during retirement years (since many of us may need to work to make ends meet)
8. Bad advice, fraud or theft regarding your investments
9. Death of a spouse
Our November 2008 newsletter listed 10 Steps to Financial Security in Your Retirement Years, and they do a good job of addressing these nine risks. Let?s revisit those steps to see how they can disaster-proof your retirement years.
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