Planning for unforeseen circumstances is a large part of thriving in Distribution Land. That’s probably a shift from what you are used to because previously there was time to recover if a circumstance arose that impacted your financial situation. But in retirement, things change.

What about the retired couple who get a phone call one day from their daughter—her husband has left me, she cries, and may I come home with the kids and the dog? All of a sudden they’re buying food for six instead of two, and replacing the carpet.

Or maybe it’s you who are getting the divorce; the rate among people in their 70s is higher than ever*. It doesn’t take much imagination to see what that does to a retirement plan.

Life situations, in other words, have the power to propel you prematurely into Distribution Land, or send you packing back to Accumulation Land. But most all of those situations can be anticipated. You may be able to head them off at the pass.

Retirees need specific advice on longevity planning, managing withdrawals from retirement funds, transferring wealth to heirs, and many other complex issues besides how to allocate their assets. Too often, the focus is on the money and not the humanity.

*Age Power by Ken Dychwald (2000)