2023 EP0408 | Financial Updates | 3 Retirement Risks

For almost every retiree, their biggest fear is running out of money. You want your #retirement to be a fitting reward to a lifetime of hard work. But it's hard to know exactly how much money you'll need to achieve your unique retirement goals, without sacrificing your quality of life. In this video, Peter with Richon Planning and Erin Kennedy break down the three biggest risks to your retirement nest egg: Longevity Risk:

1. Today, a couple at age 65 has a 50% chance of living beyond 90!
2. 2. Changes to Social Security: The government will have to make changes to Social Security if the program is to remain solvent
3. 3. Inflation: high #inflation means you'll have to use more of your retirement savings each year to maintain your same quality of life.

Designing a holistic retirement plan that addresses these risks is key to maintaining your quality of life, no matter what. If you'd like to talk through your plan and whether your income streams are sustainable, please feel free to reach out to Peter by calling (919) 300-5886 or by scheduling an appointment at www.RichonPlanning.com

#WealthManagement #SocialSecurity #CostofLiving