Financial professionals may be missing opportunities to help clients understand key risks to their retirement security in these challenging times, according to a study by Allianz Life Insurance Co. These include longevity risk, behavioral risk, market risk and inflation risk.

When many people think about retirement, they primarily think about the lifestyle they look forward to leading. But to be truly prepared, it’s vital to be aware of the “unexpected” expenses of retirement.  Below, eight professionals from Forbes Finance Council share expenses those planning for their retirements need to anticipate, as well as tips for preparing to meet them.

If you’re retired and are thinking about downsizing or relocating, and it involves buying a home, you might want to look into how you would finance it. You may discover that qualifying for a mortgage is different from the last time you bought a house. Not only have lenders tightened credit during the coronavirus pandemic, retirees generally have left a steady paycheck behind. It can be tricky for retirees to get a [...]

Retiring from full-time work can be scary financially, when you no longer have a steady paycheck to count on but still have bills to pay. That’s why my “Friends Talk Money” podcast co-hosts Terry Savage, Pam Krueger and I just devoted our latest episode to ways to boost income in retirement. (You can listen to the podcast wherever you get your podcasts.) Let me share some of our advice, as well as [...]

I hate to break it to you, but worrying about your finances doesn't stop once you leave the workforce. In fact, for a lot of people, financial worry ramps up as they find themselves facing decades of living on a fixed income. But you can reduce yours by planning your retirement carefully right now. Here are three things you can do to improve your retirement readiness today, so you can [...]

Simon had been really looking forward to retirement. The constant pressure that came with his job had been getting to him. Too many meetings, too much travel, too much of everything. Unfortunately, retirement didn’t pan out quite the way he’d hoped. Grocery shopping was giving him only a limited sense of fulfillment, and he missed the daily streams of emails and phone calls. He missed talking to his colleagues. He [...]