Core Insights - Retirement planning has evolved significantly due to longer lifespans, increased costs, and the decline of pensions, leading to outdated assumptions that can jeopardize financial security for near-retirees [1] Group 1: Retirement Duration - The assumption that retirement will last only 20 to 25 years is outdated; many retirees now need to plan for 30 to 40 years of income due to increased life expectancy [2] - Financial experts emphasize the need for higher savings rates, more flexible income sources, and a better understanding of longevity risk [2] Group 2: Inflation Impact - Inflation is now a dynamic threat rather than a predictable factor, significantly affecting retirees who rely on savings [3][4] - Social Security cost-of-living adjustments (COLAs) often do not keep pace with inflation, which can further strain retirees' finances [4] Group 3: Investment Strategies - Traditional conservative portfolios may not provide sufficient growth or income for longer retirements, necessitating a multi-faceted savings and investment strategy [5] - A diversified approach that includes life insurance, annuities, dividends, and bond or CD laddering is essential for balancing growth, income, and stability [5]