Retirement planning isnt what it used to be. With many people living into their 90s, advisors need to help clients plan for lengthy retirements that can easily stretch 30 years.
Thats a huge shift from the tidy 10- or 20-year retirements of yesteryear, says Debra Brennan Tagg, managing partner at Brennan Financial Services in Dallas. There are a lot more risks these days for retirees, Tagg says. Nobody can plan with certainty for 30 years because you just dont know whats going to happen over your lifetime.
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