Does Your Financial Strategy Take Into Account Unforeseen Retirement Challenges?
10.28.14: Benjamin Franklin once said, “By failing to prepare, you are preparing to fail.” However, when it comes to planning for retirement, it may not be a bad idea to develop a strategy that takes into consideration unexpected challenges that could arise. An unanticipated scenario in retirement might include a major medical issue, debilitating illness, or an adult child moving back in after a job loss or even returning home with grandchildren in tow after a divorce. Many people create an income plan for retirement’s best-case scenario, but it may be a good idea for them to consider what may happen to their retirement income if a challenging situation were to arise. Read more