Wednesday, August 17, 2022
Boston College’s Center for Retirement Research recently published a study that explores perceived risks to retirement in America versus what the actual risks are.
The study found that the largest risk factor to retirement is living longer than planned and running out of money, while the perceived biggest risk factor is a market drop that cuts into savings. Below are the five top risk factors found by the study:
- Longevity: living longer than planned
- Health: need for long-term care that results in hefty medical costs
- Markets: stock market decline that impacts assets
- Family: costs of healthcare for children, spouses, or aging parents
- Policy: changes in Social Security or Medicare that may result in reduced benefits
For more information:
See Richard Connor “What to Worry About” Humble Dollar, August 8, 2022.