What Needs to Go Right?

It’s natural to ask yourself what could go wrong in retirement. It’s just as important, however, to ask a closely related question: what needs to go right?

Your Income Needs to Last as Long as You Do

If you knew how long you would live, you would know exactly what you could spend. Without this knowledge, you need a strategy to make your income safely last as long as you do.

Your Assumptions Need to Be Within the Right Range

While no one knows the future, you need to protect yourself from being too optimistic or too pessimistic about rates of return, what you can spend, and what you must protect yourself against.

Your Taxes Need to Be Controlled

You need the assets you invest in to provide you with a “positive exchange rate” during retirement. What this means is that, to the greatest extent possible, you need each dollar you spend to cost you as close to a dollar as possible rather than $1.30 or a $1.45 due to taxes.

Your Health Care Costs Need to Be Controlled

While Medicare will serve as your primary insurance in retirement, you need to have protection in place for the costs Medicare doesn’t cover, namely the cost of entering a full-time care facility.

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