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Knowing the risks facing your retirement plans is a huge part of this process, and we’re happy to assist at MaysGroup Advisors. From helping detail the possible downsides of 401(k) and IRA accounts to looking into longevity risk and inflation risk, we’ll help you develop a plan that suits your budget and timeline. Retirement planning is not something to take lightly, so don’t be afraid to get in touch with us when you’re ready to begin. Whether you need a simple consultation or a more involved plan for your future, we are here to help. With our expertise and your vision, you can be sure that the money you’ve saved will last long into retirement. So don’t wait – contact us today and let’s get started on building a retirement plan that works for you. You won’t regret it!
To prepare yourself for a happy retirement, you need to know the risks. It’s a bit like boxing. The punches you see coming don’t knock you out—you can prepare for those. It’s the punch you didn’t see coming that puts you on the canvas. Risks that you can identify, you can often eliminate or minimize.
The longer you live, the more likely you are to experience the subset of risks that could completely derail your retirement plan. In the context of retirement planning, longevity risk is the number one risk facing future and current retirees. If you have been expecting to rely on your 401(k), IRA or 403(b) assets alone you are particularly susceptible to longevity risk. Longevity risk is known as the “risk multiplier” because the risks get larger as you age.
The three significant subsets of risks elements that comprise longevity risk by becoming enhanced or magnified as you age are:
Saving through tax-deferred plans such as a 401(k), IRA or 403(b) rarely protects from longevity risk.
At the MaysGroup, our focus is utilizing mathematically proven safeguards that help protect you from the pitfalls and landmines found in both the asset accumulation and income distribution stages of retirement. In this way, we can eliminate the threat of longevity risk by systematically repositioning portions of your current tax-deferred funds into retirement vehicles that are immune to both market declines and taxation while helping to mitigate the effects of a health emergency
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