How to Manage 8 Risks That Can Derail Your Retirement - 184

Your Money, Your Wealth

Realestate, Income, Investing, Personalfinance, 401k, Rothconversion, Retirement, Education, Taxes, Socialsecurity, Personalfinances, Finance, Retirementplanning, Investments, Stocks, Business, Roth, Fiduciary, Ira

2.3 • 681 Ratings

🗓️ 28 August 2018

⏱️ 55 minutes

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Summary

Plenty of risks threaten retirement, and today we focus on managing risks from longevity, inflation, sequence of returns, taxes, interest rates, and lost opportunity. Plus, Professor Jamie Hopkins from The American College and the New York Life Center for Retirement Income talks about how our risky investor behavior needs Rewirement (which happens to be the title of his most recent book), how a reverse mortgage can help, and why "set it and forget it" may also be a risk to retirement. Transcript and show notes at http://bit.ly/YMYW-184

Transcript

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0:00.0	Plenty of risks threaten retirement, and today we're going to focus on managing risks from longevity, inflation, sequence of returns, taxes, interest rates, and lost opportunity.
0:12.2	Plus, Professor Jamie Hopkins from the American College and the New York Life Center for Retirement Income talks about how our risky investor behavior needs rewirement, which also happens to be the title of his most recent book.
0:24.1	And he'll discuss how a reverse mortgage can help and why set it and forget it may also be a risk to retirement.
0:30.5	Now, here are the Roth brothers, I mean, Joe Anderson, CFP and Big Al-Clofine CPA.
0:37.0	When people think about risk, what do they think about usually?
0:40.4	In retirement, they think about the market.
0:42.2	Market risk, right?
0:43.5	Yeah, and that's, that is a risk.
0:46.0	Of course it is.
0:46.8	But there's others, too.
0:47.8	There is.
0:48.5	There's a lot of other risks that you have to consider in regards to they have
0:52.9	in a fulfilling retirement.
0:53.9	There's longevity and inflation risk fulfilling retirement. There's longevity
0:55.0	and inflation risk, Alan. That's the silent risks. We live longer, which is good, right? I want
1:03.2	to live a little bit longer. It's fantastic. The current stats, here's the current stats. So a healthy
1:08.0	individual age 65. So a man has a 54% chance of living to age 85 or later.
1:15.7	That's today.
1:16.4	Today.
1:17.1	According to Rick Edelman, we're going to live until 200.
1:19.6	Well, I think he's...
1:21.4	Well, 120 is what he's...
	...

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