Time’s Ticking—How to Keep Life From Messing With Your Retirement!

Life is full of risks—and each stage brings new ones. From early adulthood to your golden years, navigating life means constantly adjusting your strategy to stay protected. It’s just part of the journey. But walking into retirement without a solid game plan can quickly unravel decades of hard-earned savings meant to support your lifestyle and your legacy.

Retirement brings freedom, but it also introduces unique challenges. As it approaches, proactive planning becomes not just important—but essential. Four major risks often surface during this phase: health-related events, potential reductions in Social Security, inefficient asset transfer to heirs, and the possibility of outliving your savings.

1. Health-Related Events

As we age, the chances of facing health issues rise—and so do the odds that these issues bring permanent changes to daily life. Medical expenses are a top contributor to underfunded retirements, often exacerbated by a lack of planning. With healthcare costs continuing to climb, being unprepared can leave you financially vulnerable when you need stability the most.

2. Social Security Uncertainty

As of February 2024, around 67 million Americans rely on Social Security for income. But here’s the hard truth: Social Security isn’t guaranteed. The U.S. Supreme Court has ruled it's considered government spending—not an entitlement. What happens if payments are reduced… or even halted? Without alternative income strategies, your retirement plan could face serious shortfalls.

3. Leaving a Legacy

Retirement is meant to be a reward for decades of hard work. Ideally, you enter this phase with minimal debt and enough financial strength to last your lifetime—and leave something meaningful behind. But assets with tax liabilities can lose value in transfer. Smart estate planning ensures your legacy passes on to your heirs intact, not diminished by avoidable taxes or legal complications.

4. Longevity Risk

Thanks to medical advances and healthier lifestyles, people are living longer than ever. In the 1980s, the average life expectancy in the U.S. was 73.6 years. In 2025, it’s up to 79.3—and the oldest living person today is an incredible 116 years old. With the typical retirement age at 67, that means many Americans could be funding 20 years—or more—of retirement. Without a long-term income strategy, that’s a daunting prospect.

The Bottom Line:
Retirement should be a time of peace and enjoyment—not stress and uncertainty. At Doan Financial Group, we help you anticipate these risks with a personalized plan designed to protect your finances, your lifestyle, and your legacy. The earlier you start, the better prepared you’ll be.

***Doan Financial Group and/or representatives of Doan Financial Group are not tax professionals or advisors. Please consult with a tax professional.