Everyone wants to live long, healthy life. How can this be a bad thing?
The longer you live, you become exposed to several risks, such as:-
1 Depleted savings causing you to reduce your standard of living.
2 Have increased medical expenses.
3 Lose purchasing power to inflation.
4 Require long term care.
5 Experience the death of spouse.

Do you come from a family with long life expectancies?
Do (or did) any of your family members require long-term care?
Are you planning for a retirement that could last for more than 20 years?

Investment Risk is the risk that your investment may perform worse than expected. Market risk is the risk the value of an investment will fluctuate, resulting in lower than expected returns. Interest rate risk is the risk that returns on fixed-rate investments, such as certificates of deposit (CDs), will be lower in the future.

How would you describe your comfort level with investment risk?
1) Conservative – Prefer guarantees
2) Moderate – Prefer a balance of guarantees & some risks
3) Aggressive – Prefer risks fit means a possibility of greater returns.

Inflation is especially dangerous for those who are retired, an retired people depend more on income sources that are not adjusted for inflation.
The prices of health care & medicine & other goods & services most used by retires, have historically increased faster than the inflation rate.

i) Do you have sources of retirement income other than social security that automatically increase with the cost of living?
ii) Have you accounted for inflation risk when planning your retirement?

The medical advances & new prescription drugs that improve & extend lives can be a major expense.

More than half of Indian population will require some type of long-term care during their lives.
1) Do you plan to purchase insurance to supplement medicine?
2) Do you have health care coverage until age 65, 70, 75, 80?
3) Have you considered the costs associated with chronic illness?
4) Have you considered the cost of prescriptions in retirement?
5) Have you planned for the possibility that you will require long-term care?

Where would you prefer to receive care?
(1) at home, (2) adult day care centre, (3) assisted living facility, (4) nursing home

Your retirement will experience the effects of public policies that you have little individual control over, such an increases in taxes, changes in medicare benefits, changes in interests.

1) Does your current retirement planning fully minimize the impact of taxes?
2) Are you concerned that your government – provided retirement benefits may be reduced?

Employment Risks – the option to continue to work or work part-time in retirement is dependent upon an available job & your health.
Loss of spouse risk – pensions, social security benefits, health insurance & other benefits may be reduced at the death of the spouse. The loss of a spouse may make it difficult to manage finances.
Caregiver Risks – who will care of your, if needed? Who will rely on you for care? The financial costs of providing for an outside caregiver, or the strain on a family member must be considered.

1) Do you plan to work during retirement?
2) Will you continue to rely on your employer for pension benefits or health insurance?
3) Will either of you be able to maintain your standard of living after loss of your spouse?
4) Will a family member need to be your caregiver?