The 5 Biggest Risks People Face in Retirement, Ranked

"Planning for retirement has always been challenging because retirees face so many risks and don't understand them properly,"

writes Wenling Hou, author of a new paper published by Boston College's Center for Retirement Research.

Here’s a look at the five biggest risks retirees face — as well as some advice for minimizing those risks. 

1. Outliving your money in retirement

2. Higher-than-expected medical cost

3. Stock market volatility

4. Family expense

5. Social Security policy change

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