N • RUBY, WILDING & SWANSBURG
Your Three Biggest Risks A book is sometimes an impersonal medium. When I meet with a client, I get to look at her across the table, get to know his family, or understand their financial situation. So, you might be thinking, “How can he know MY biggest risks?” Here’s a secret: Almost everyone is struggling with the same three risk s. Rea d t he follow ing descript ions a nd think abo ut wh ether th e y apply to yo u: No. 1: Structural Risk — This risk is about t he mechanics of saving. How are you saving? What savings vehicl es are availabl e t o you? W ho is hel ping you save? Is your employer contributing to your savings program? If so, how? Are government resources available to you? If so, what are they ? Do yo u kno w which ones yo u should take advantage of and how to do so? How is your savings progra m structured? These questions can make the dif ference betw een whet her you are successful or not , especiall y if your goal is t o provide a comfortable retirement for yourself. No. 2: Market Risk — Anyone who has followed the stock market over the last two decades is well aware of this risk. When you are saving money for your future, you want it to grow. Placing money in the stock market for that purpose comes with a risk that can best be illustrated by a pair of scales. Losses on one side. Gains on the other. The market giveth, and the market taketh away. This risk pertains to more than just Wall Street. Any time your savings are invested where loss is possible , whether i t be stocks , bonds , re al estate , or a host of ot her asset s, you fa ce real risk that your sa ving wi ll not e xperience s ufficie nt gr owth to offset l osses. No. 3: Tax Risk — The risk is quite simple. How much of your retirement account will you get to use, and how much
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