Have You Stress-Tested Your Retirement Plan? Why You Need To
Description
You’ve worked hard for decades, carefully saving and believing you have enough money to provide security for the rest of your life. But what if the unexpected strikes? A devastating diagnosis, a sudden market crash, or a once-in-a-lifetime catastrophe could unravel your financial future in an instant.
Stress-testing your retirement plan is not just smart—it's essential. It's like running a fire drill for your finances. By simulating worst-case scenarios, you can see how your plan holds up under pressure. Yet, far too many people skip this crucial step or treat it as a one-time task. Without stress-testing your plan and making adjustments, you're leaving your future to chance, hoping everything will go as planned. Hope isn't a strategy…in this case, it can be a dangerous gamble.
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