The cost of procrastination
What would stop you from making deposits into your retirement accounts today?
1) I do not earn enough
2) I do not need it
3) I am paying a debt
The reality is you want to retire one day, and a strategy will make it easier for you to accomplish your goals no matter your situation.
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All platform materials
Retirement Roadblocks features many tools to help you transition these risks, or “roadblocks,” into possible solutions for your clients. Our resources can be used in all stages of your practice to educate, inform, and help address these major risks facing retirees and pre-retirees today.
Longevity Risk
Living longer than expected can magnify the impact of inflation, market volatility, and long-term care needs. Often a misunderstood risk of retirement income planning is that there’s more to longevity than life expectancy data alone.
Inflation Risk
Inflation can impact retirees’ ability to maintain an adequate living standard and diminish their purchasing power the longer they live. An increasing retirement income strategy may help put their lazy money to work.
Sequence of returns risk
Is there such a thing as “retiring at the wrong time”? There certainly could be. Negative market returns early in retirement can adversely impact how long retirement savings will last. Help minimize this risk with solutions that offer more stability within your client’s retirement portfolio.
Withdrawal rate risk
Some retirees rely on withdrawal rates from their retirement portfolio far higher than current research suggests. Consequently, they may need additional assets to generate the same level of income. Or realize higher returns while accepting additional risk by looking to other vehicles to generate the desired income level.
Social security risk
It’s important to help clients understand Social Security filing options, like the ability to delay receiving benefits. Doing so may open up other opportunities for retirement income strategies you can offer and potentially put your clients in an improved long-term financial position.
Healthcare risk
The unpredictable nature of one’s health and healthcare-related expenses make preparing for the long-term healthcare needs of today’s retiree a challenge. Discover ways to incorporate healthcare costs into a client’s retirement income strategy using approaches and products that can simultaneously serve multiple needs.
Taxation risk
A tax allocation strategy that begins with diversifying retirement income sources is an important step to help minimize the impact of ever-changing tax rates for your clients. Focus on including tax vehicles that hold various tax qualifications – taxable, tax-deferred, and tax-free – to help combat taxation risk when taking withdrawals.