The Big Risk

Every day the financial media drones on about risks in your portfolio, like . . .

Inflation risk

Political risk

Credit risk

Reinvestment risk

Behavioral risk

. . . to name a few.
 
Take it from someone (me) who has worked the past 38 years in the financial services arena – the biggest risk is none of the above.

The biggest risk to your portfolio is likely to be the unexpected health care costs you will encounter during retirement. The time to plan for this biggest risk is now, especially while you are still working.

Christine Benz, director of personal finance at Morningstar, has produced an in-depth “Action Plan for Long Term Care.” Read it and take action today before you need long-term care. Tempted to deal with this another day?

Read this timely article on the cost of growing old, and you might think twice.