Top 3 risks to your retirement funds

No one knows better than you how hard you’ve worked to get to retirement — which is why it is all the more important to protect what you’ve earned. Here are the top three risks to your retirement funds as well as some actionable tips for how to prepare for them.
Thanks in part to improved medical care, people are living much longer than they did in the past, which means your retirement savings may need to last longer than you originally planned. Luckily, there are steps you can take to help prevent the possibility of outliving your retirement funds:
Just as you would prepare for expected health care costs, preparing for unexpected expenses or the possibility of needing long-term care is just as important. Including additional health care and projected long-term care costs in your budget can help you determine if you should consider additional strategies. In some cases, specifically identifying assets and/or reducing your withdrawal rate are ways to help cover these potential costs.
Medicare generally doesn’t cover expenses related to long-term care, which can be substantial. Several options are available to help pay for long-term care costs. Your financial advisor can help you determine the options that may be appropriate based on your preferences for care and financial goals.
While it is typical to expect a certain amount of market fluctuation and inflation, if the past few years have shown us anything, it’s just as important to prepare for heightened or prolonged periods of market downturns. Here are some things you can do to prepare for these unexpected market shifts:
Of course, there are other risks to consider when it comes to protecting your nest egg. Fortunately, your Edward Jones financial advisor can help you prepare for these and other potential risks so that you can enjoy your hard-earned retirement.
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Diversification does not ensure a profit or protect against loss in a declining market.
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