Assess Risk Tolerance and Needs

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Assess Risk Tolerance and NeedsTo achieve a retirement income plan with certainty without purchasing an annuity, you might want to discuss your needs with a trusted financial advisor.“Have your financial advisor create a draw­ down strategy specific for your own particular risk tolerance and needs,” advises Timothy Shanahan, president and chief strategist at Compass Capital Corporation, in Braintree, Massachusetts.Tailor your retirement income plans to how much risk you can take and how much income you need.