There are many things to think about when it comes to retirement. Spending time with family, traveling, and enjoying your hobbies, to name a few. But a recent article by U.S. News and World Report says there are also potential risks to think about, as well.
“Many retirees can expect to live another 20 years, and some people will live to age 90 or beyond. That means you might need to pay for several decades of retirement. But once you’re retired, you live on a fixed income. There are no merit raises, bonuses or employer contributions to your retirement account. So even if you can afford your current lifestyle, you should consider what’s going to happen over the next 20 or 30 years.”
The article goes on to outline 5 major retirement risks, and how to approach each one.
To read the full article, visit the U.S. News and World Report website here.