Does Your Financial Strategy Take Into Account Unforeseen Retirement Challenges?

Benjamin Franklin once said, “By failing to prepare, you are preparing to fail.” However, when it comes to planning for retirement, it may not be a bad idea to develop a strategy that takes into consideration unexpected challenges that could arise.

An unanticipated scenario in retirement might include or an adult child moving back in after a job loss or even returning home with grandchildren in a major medical issue, debilitating illness, tow after a divorce. Many people create an income plan for retirement’s best-case scenario, but it may be a good idea for them to consider what may happen to their retirement income if a challenging situation were to arise.

Perhaps a better approach would be to create a strategy for potential obstacles. That way, if you happen to make it through retirement with no unexpected financial issues, you could potentially be able to leave a larger inheritance for loved ones.

Contact us at 317.788.1562 for more information.