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You may live longer than expected. You may withdraw your money too quickly. Inflation may impact your retirement savings. You may face a high probability of losing your ability to make sound financial decisions later in life. But the risk that may be the most significant is market volatility, also known as the “sequence of returns” risk.
First, keep in mind that average returns are different from actual returns. The change from one year to the next can be significant, and the order, or sequence, in which people experience these returns can be a game changer. Positive returns early in retirement can help your money last longer and may even allow you to increase your withdrawal amounts as you get older. However, negative returns early in retirement can drain your assets far quicker than you had planned.
How do I turn my investments into a reliable source of income for my retirement?
Great question! But the answer is not so simple. The good news is there are numerous products available in the market place that were created specifically to address this popular concern. A meaningful discussion with an advisor to understand your needs and concerns is the best first step.
To learn more about your options and the products available for your income needs in retirement click on the link below to schedule an appointment.
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