Risks come in many different shapes and sizes. Some may be easily recognized while others may be complete surprises. Are you aware of the types of issues that could derail your financial plans today?

What risks, or issues or events, could negatively impact your:

• Level of income?
• Personal expenses?
• The lifestyle and security of your family?
• Retirement picture?
• Business?
• Portfolio?

To what extent are you exposed to these risks today?

What would happen if:

• Your income declined, or expenses increased, by 10% to 20% or more due to an accident, sickness or disability? What would be the impact on your current financial situation and how would you adjust?
• You or another family member passed away unexpectedly? What would be the financial impact on the family or your business? Would the family, or the business, have enough income to continue to support its needs? What changes would need to be made to make ends meet?
• Your portfolio declined in value by 20% or more during your retirement years? To what extent would this impact your income and lifestyle in retirement? How would you adapt to this outcome?

Our experience tells us that financial success can often have more to do with how well you survive the tough times vs. how well you do during the good times. Both are important, but all of the good outcomes achieved during the good years can often be undone very quickly over a short period of time unless these risks are managed well.

Therefore, a strong focus on risk management is a critical component to achieving positive financial outcomes over time.

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