Advisor Philosophy

How I Think About Risk

Risk isn’t a number on a chart. For retirees and pre-retirees, risk is anything that can permanently change the lifestyle your assets were meant to support.

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The 6 Risks That Matter Most

I look at risk through the lens of what can break a retirement income plan—especially when withdrawals and inflation are involved.

Sequence

Early losses plus withdrawals can cause permanent damage.

Inflation

Stable dollars can still mean declining purchasing power.

Cash-Flow

Where income comes from matters most in down markets.

Concentration

Too much in one theme creates a single point of failure.

Behavior

A plan must be built to survive real human emotions.

Regime

Different environments reward different strategies.

The goal isn’t to avoid volatility. It’s to avoid being forced into a bad decision at the worst possible time.

Volatility vs. Risk

Volatility is movement. Risk is the chance that movement permanently changes your future options— especially while you are withdrawing income.

“In retirement, the question isn’t ‘What did the market do?’ It’s ‘What did the market do while I was withdrawing?’”

How I Strengthen a Plan

Stress tests I use
  • Bad first years: early losses combined with withdrawals
  • Inflation pressure: rising income needs over time
  • Timing shifts: starting income earlier or later
  • Flexibility: options available before panic sets in

Want a second opinion on sequence risk?

If you’d like to understand how a market reset could impact your retirement income, the income stress-test can show it clearly.

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Educational content only. No strategy can guarantee results or eliminate all risk.