In a world with so much geopolitical issues and uncertainty, retirement seems to be a scary subject to think about.
Retirement planning during withdrawal phase is more complex because retirees face the following risks in retirement:
- Longevity risk – the risk of money running out before you do
- Inflation risk – the risk of decreasing purchasing power
- Market risk – the risk of not having your money when you need it due to market volatility
- Withdrawal risk – the risk of overspending in your retirement years
Watch this video as Christopher Tan, CEO of Providend, shares ways you can prepare to combat these risk to have a peaceful retirement for your golden years.