Seasoned retirement planner Chris DiGregorio joined Philadelphia-based financial firm Janney Montgomery Scott, LLC in 2015. In his work with Janney, Chris DiGregorio focuses on wealth planning strategies that enable clients to mitigate risks after retirement.
Even with secure income vehicles, retirement can be impacted by external events. Below are some of the most frequent risks that can occur post-retirement.
Health Problems: Aging often comes with more complex health issues, which can result in costly treatments and hospitalizations. Retirement planners suggest long-term care insurance policies to defray the cost of assisted living facilities or in-home nursing care.
Federal Policy Changes: The government may change terms of entitlement programs without warning. For this reason, retirement specialists advise retirees not to depend solely on government programs or one type of investment vehicle for income.
Stock Market Volatility: The impact of a bad market on a retiree’s assets depends on when the downturn occurs. Market losses may not impact older retirees as much, but people nearing or entering retirement can be greatly affected. It is advisable to have other sources of retirement income, and to make conservative withdrawals.
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