Episode 7: Risk in Retirement
Episode description
We're going to be talking about risks that face your retirement, I'm going to focus primarily on eight main risks.
1- Social Security Risk
2- Lack of Income Diversity Risk
3- Tax Rate Risk
4- Longevity Risk
5- Sequence of Return Risk
6- Withdrawal Rate Risk
7- Long Term Care Risk
8- Inflation Risk
So how do we solve all these risks? This is a huge laundry list of risks that are facing your retirement. Well, how do you solve These, it's by putting together a well organized plan and focusing more on getting through retirement rather than focusing on getting to retirement.
What could possibly happen to cause taxes to go up?
Here are three main things.
1- social security is one of the big ones, 2- Medicare even bigger than Social Security, and it's turning out that 3- the national debt may become bigger than any of these.