7 Reasons High-Net-Worth Individuals May Outlive Their Savings

RJ Hamster

7 months ago

SPONSORED BY SMARTASSET

High-net-worth individuals, those with $1 million or more in liquid assets, may face unique challenges when it comes to preserving their wealth through retirement.

With longevity shifts, periods of heightened inflation and market volatility, traditional financial planning strategies could cause many to potentially outlive their savings.

Seeking guidance in these 7 areas could potentially help reduce stress and help ensure you’re not at risk of outliving your savings and may be more likely to enjoy the retirement lifestyle you’ve been planning.

But how do you find a financial advisor? SmartAsset’s no-cost tool simplifies the time consuming process of finding a vetted fiduciary. Answer a few questions to get matched with up to three vetted financial advisors serving your area. All advisors on the platform have been rigorously screened through a proprietary due diligence process and are legally bound to work in your best interest.

Research suggests people who work with a financial advisor could end up with about 15% more money to spend in retirement. ¹

It’s never too late to plan to work toward a comfortable retirement.

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Sources:
1. “Journal of Retirement Study Winter” (2020). The projections or other information regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of your future results. Please follow the link to see the methodologies employed in the Journal of Retirement study.

EDITOR’S NOTE

The Daily Revenue is dedicated to providing readers like you with unique opportunities. The message above from one of our business associates is one we believe you should take a serious look at.

The information contained in this article is general and not specific to any individual’s situation. The SmartAsset quiz matches you with up to 3 financial advisors to which you can compare and decide which to work with.

This is not an offer to buy or sell any security or interest. All investing involves risk, including loss of principal. Working with an adviser may come with potential downsides such as payment of fees (which will reduce returns). There are no guarantees that working with an adviser will yield positive returns. The existence of a fiduciary duty does not prevent the rise of potential conflicts of interest.

SmartAsset Advisors, LLC (“”SmartAsset””), a wholly owned subsidiary of Financial Insight Technology, is registered with the U.S. Securities and Exchange Commission as an investment adviser. SmartAsset’s services are limited to referring users to third party advisers registered or chartered as fiduciaries (“”Adviser(s)””) with a regulatory body in the United States that have elected to participate in our matching platform based on information gathered from users through our online questionnaire. SmartAsset receives compensation from Advisers for our services. SmartAsset does not review the ongoing performance of any Adviser, participate in the management of any user’s account by an Adviser or provide advice regarding specific investments. We do not manage client funds or hold custody of assets, we help users connect with relevant financial advisors.

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