7 common risks to retirement income—and who's responsible for managing them
Every retirement portfolio should have one requirement—that it lasts a lifetime. And the responsibility for ensuring that it does lies with each individual.
“Thirty years ago, most Americans could rely on Social Security and a pension to provide the income they needed in retirement. That’s no longer the case,” says Brandon Buckingham, vice president and national director of the Advanced Planning Group for Prudential Annuities. “Today we have much greater personal responsibility to create our own retirement income plan.”
To that end, says Buckingham, you’ll need to prepare for, and manage, common retirement income risks in seven categories: markets; sequence of return; interest rates; investment behavior; inflation; longevity; and withdrawal rate.
“Creating income security and ensuring a successful and happy retirement is no easy task,” Buckingham says. “Many Americans have been saving and preparing for retirement their entire working life. As they begin to transition into the longest vacation of their life, they should make sure their retirement income plan is structured to withstand these seven common risks.”
Interested in learning more about the seven risks? Read Brandon’s full article. Want to speak to Brandon? Contact Lisa Bennett.
The Prudential Insurance Company of America Newark, NJ