Achieving financial security isn’t an easy task. The dynamics of retirement income planning have evolved. It used to be that retired households could rely upon Social Security and personal pensions for the income they needed.
But that has changed. Now Americans shoulder more individual responsibility for their future income security. Also, life expectancies are on the rise. The challenge becomes ensuring our money will last for a retirement lifetime.
As you create your own retirement income plan – or consider potential changes to your current plan – here are six risks to retirement income to consider. Keep these potential pitfalls in mind as you formulate your own strategy.
