As you near retirement, it can feel as if you are climbing Mount Everest and just need to hold on long enough to reach the summit. Once there, you hope to behold that glorious view of Distribution Land shimmering below you, stretching out to the horizon.
But consider this: A great many of those who have perished on Mount Everest met their fate on the descent, not the ascent. A mountain climber needs an entirely different set of skills on the way down. Some people need a competent guide on both sides of the mountain—someone who has been there many times before and knows the terrain and conditions. Otherwise, a sudden change in the weather or the wind could do you in.
Here are the potential enemies you could face in Distribution Land. Don’t let them surprise you on your retirement journey:
- Sequence of return risk. Read more about the Sequence of Return Risk in this article, “Watch Out for Sequence of Return Risk in Your Retirement Funds.pdf”
- Inflation and interest-rate risk. Read more about Inflation and interest-rate risk in this article, “Don’t Overlook This Big Retirement Risk.pdf”
- Bond market risk
- Tax issues
- Fees for probate
- Health-care and long-term care needs. Read more about Health-Care and Long-Term Care needs in this article, “Medical and Long-Term Care – An Underestimated Need You Can’t Afford to Ignore.pdf”
A financial advisor can create a strategy designed to help you come down the slope safely and inspire a sense of accomplishment. Learn more about these risks and the strategies for overcoming them in my book, DistributionLand .
