Description
Identifying the Risks associated with Living Too Long...Spending Too Much Too Quickly...Rising Prices of Goods and Services...Needing Long-Term Care...Losing the Ability to Manage Financial Affairs...Needing Extensive and/or Expensive Medical Care...Losing Money in the Financial Markets...Being Unable to Duplicate Yield on Fixed Investments...Retiring Earlier Than Planned...Changing Government Policies...Losing Your Spouse...Assuming Unexpected Financial Responsibilities...Being Able to Access Funds...Meeting Your Desire to Leave a Lasting Legacy...Bad Advice, Fraud, and Theft...Supplementing Retirement Income with Earnings from Employment during Retirement...Inability to Maintain the Home...and Retiring at the Wrong Time.
A. Introduction of topic of Unique Risks at the TOP of the Financial Planning Pyramid (3 minutes)
B. Overview of The Financial Planning Pyramid (5 minutes)
C. Review of the 18 Retirement Risks (set out in description) (35 minutes)
D. Conclusion and Q & A (7 minutes)
Learning Objectives
Identifying and managing risk is as integral to financial planning as are investing, wealth
management, and managing tax and legal considerations. Risk is present at every level or life stage of a financial planning pyramid.
The top of most planning pyramids—when individuals focus on retirement income and legacy planning—includes a much wider, expanded, critically important, and longer-lasting range of risks than earlier planning levels.
Identifying and addressing the risks individuals may encounter at the top of the planning pyramid can determine if retirement planning will be successful.