Core Insights - There is a significant disconnect between average Americans and financial advisors regarding retirement risks, which may jeopardize long-term financial security [1] Group 1: Retirement Risks Perception - The primary concern for consumers regarding retirement is inflation, with 63% identifying it as a risk, while advisors do not rank it among the top risks [3] - Financial advisors consider the most significant retirement risks to be outliving savings (56%) and market volatility (51%) [3] Group 2: Perspectives on Risks - The differing perspectives arise from the immediate experiences of consumers with inflation versus the long-term planning focus of advisors [4] - Consumers tend to underestimate their longevity, leading to inflation being perceived as a more pressing concern than it may be in long-term planning [5] Group 3: Addressing Risks - Both consumers and advisors have valid points; addressing both inflation and the risks of outliving savings and market volatility is essential for a successful retirement strategy [6]

Core Insights - The decision to retire is influenced by various factors including the couple's combined income, savings, and the role of Social Security and Medicare in their retirement plan [1][2] Retirement Landscape Changes - The retirement landscape has significantly changed since the early 2000s, with the pandemic accelerating workforce exits; over half of U.S. adults over 55 reported being retired by the end of 2021 [3] - Employment among older Americans is increasing, with 19% of those aged 65 and older employed in 2023, nearly double the rate from 35 years ago [3] - Life expectancy has risen, with average life expectancies for 65-year-olds being 20.12 years for women and 17.48 years for men, highlighting the risk of outliving savings [3] Financial Considerations - Market downturns, inflation, and rising healthcare costs pose risks to purchasing power in retirement [4] - Medicare eligibility at age 65 can help manage healthcare expenses, but additional costs may still be significant [4]