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Section 5

Address Retirement Risks

Part of retirement planning means preparing for events that are
out of your control. No matter how much you save for retirement

or how much planning you do, there are always events that are
unforeseen. While these events can’t be predicted, some can be

anticipated and prepared for.

Running Out of Money

The overwhelming majority of planning for retirement is
designed to address one almost unimaginable risk: running out

of money. For a married couple, there are usually three major
goals with regard to retirement income:

1. Maintaining their standard of living in retirement.

2. Making their income last for the rest of their lives.

3. Taking care of each other financially when one of them

passes away.

Chapter 6: Your Action Plan