Already Retired or Close to It? Here’s a List of Costly Risks You Should Know

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#4 Public Policy Risks—Government decisions

We all know that government policies can affect many things in our lives including the financial position of retirees, and these policies often change over time. Policy risks include possible increases in taxes or reductions in entitlement benefits from Medicare or Social Security.

That’s why your retirement plan should not be based on the actual government policy. Government policy will not remain unchanged forever. It is also essential to know your rights by heart and be aware of your entitlements. Also, new government decisions could result in some loopholes, so stay informed if you what to take advantage of them.

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