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Planning for retirement? Consider these key risks

^{Published on 2024-12-07 17:40:44 - The Citizen}
 

• Planning and saving for retirement seems to be a very simple affair, but in fact it is not with many risks you have to circumvent.

The article from Citizen.co.za discusses key risks to consider when planning for retirement. It highlights the importance of understanding and preparing for various financial risks such as inflation, which can erode the purchasing power of savings; longevity risk, where individuals might outlive their savings; investment risk, where the performance of investments might not meet expectations; and sequence of returns risk, where the timing of investment returns can significantly impact retirement funds. Additionally, the article touches on health care costs, which can be substantial in retirement, and the risk of not having adequate insurance or long-term care plans. It emphasizes the need for a comprehensive retirement plan that includes diversification of investments, regular reviews of financial plans, and possibly consulting with financial advisors to mitigate these risks effectively.

Read the Full The Citizen Article at:
[ https://www.citizen.co.za/business/personal-finance/planning-for-retirement-consider-these-key-risks/ ]

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