This article was originally published by U.S. News and written by Kristin McFarland, CFP®, Wealth Advisor at Darrow Wealth Management.
The doomsday scenario is universally shared by retirees and pre-retirees alike: depleting all your financial resources during your lifetime.
While some concerns may stem from insufficient savings during working years, even investors who have saved diligently face risks outside of their control. Economic conditions, the stock market, current interest rates, and the global geopolitical climate all pose hazards and opportunities for investors, especially for retirees whose financially livelihood is largely dependent on their personal retirement savings.
Although there’s no such thing as a sure thing in the financial markets, it is possible to structure a retirement strategy where the risk of outliving your assets is substantially reduced.