What Financial Risks Are Introduced After Retirement?

Chip-Stapleton-16-What financial risks are introduced after retirement

Chip Stapleton explains that four major risks can impact your finances in retirement — living too long, market volatility, inflation, and illness or injury — all of which can quickly deplete your savings if not properly planned for.
Video Transcript

There are four risks that change once you retire. There's mortality, so living too long.

That is one that is a huge risk in retirement. There's volatility where getting the wrong return at the wrong time can erode your assets quickly and make you run out of money.

There's inflation where it can erode the value of your dollar, which if you want to keep up with inflation, have to take more money out, which can cause you to run out of money sooner.

And then there's illness and injury, where we're talking about a long term care stay, which can cost upwards of one hundred thousand to one hundred and fifty thousand dollars a year. Those are four ways that your retirement finances can change as soon as you cross that threshold.