Retirement Income Plan: Your Best Defense Against Outliving Savings - Part 1

The financial risk that many retirees fear most is outliving their savings (longevity risk). While risks such as investment losses (market risk), increasing cost of living (inflation risk), and others can help impact a retiree in different ways, ultimately, they all can result or contribute to a person outliving his or her savings. The most effective tool for anticipating and managing all financial risks in retirement is a written retirement income plan. Without one, at best the retiree is left with only a vague idea as to the lifestyle that can be supported by his or her retirement assets. And because outliving savings is such a large concern, it’s difficult to spend money with confidence without knowing how long savings might last. A retirement income plan can be used as a map to successfully guide a person through retirement. It can provide valuable insights that can help anyone make better financial decisions that can lead to a more enjoyable and confident retirement. The Retirement Ready radio show is featured every Saturday on WTMJ 620 AM at 1:00 pm. We will bring you information on: Social Security options, retirement trends, options to retire with life changes and achieving a secure financial future. Listen live: www.wtmj.com/listen-live Investment advisory services provided by Drake & Associates, LLC, a State of Wisconsin registered investment adviser. Insurance products are offered through a separate company, LOFT Financial Advisory Group, LLC, a Wisconsin Insurance agency, clients are under no obligation to purchase any recommended insurance products. Advice and opinions expressed during Retirement Ready are solely that of the hosts or guests of Drake & Associates, LLC and not WTMJ Radio or Good Karma Brands Milwaukee, LLC.This is The Retirement Ready Show hosted by Tony Drake, CPR® with Drake and Associates. Our goal is to educate you on the many topics of retirement and inform you how to create a successful Retirement Ready Roadmap. Thank you for joining us for another episode where we will make your Retirement Ready Roadmap simple. Schedule your complementary consultation today.go.oncehub.com/scheduleacomplimentaryconsultation