Riscario

When asked about financial risks, most of us think of the following

1. Living too long: outliving our savings
   • consider a life annuity for guaranteed income for life
2. Dying too soon: with financial obligations outstanding
   • consider
     • life insurance for a tax-free lump sum benefit
     • preparing a will
     • setting up a power of attorney
3. Getting sick: facing more medical expenses and less income
   • consider
     • • accident & sickness insurance
       • critical illness insurance
       • long term care
4. Getting disabled: losing income
   • consider
     • disability income replacement insurance
     • critical illness insurance

We often miss the 5^th risk: overpaying taxes. Taxes reduce our income, hurt our investment returns and reduce the values of our estates. Without planning, assets may need to be sold and an inopportune time to pay the taxes.

There are strategies for dealing with these risks throughout Riscario.

References

• Leading causes and risks of death (US)
• Odds of dying (US) and National Geographic graphic