What’s the Key to a Secure Retirement?

The answer is long-term planning, but if you, like so many other retirees and others approaching retirement, have planning gaps, here’s what you can do.

Two older women laugh as they sit on porch steps and drink coffee.
(Image credit: Getty Images)

By the time a person approaches retirement age, they have enough life experience to know that change and the unexpected are, well, expected. On the other hand, human beings also tend to focus on what’s right in front of them, and retirees and those approaching retirement are no different.

Studies have found that many people at or near retirement age have major gaps in their planning, making them vulnerable to financial problems in retirement.

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Anna M. Rappaport, FSA, MAAA
Chair, Society of Actuaries Committee on Post-Retirement Needs and Risks

Anna M. Rappaport, FSA, MAAA, is a past president of the Society of Actuaries and chairs its Committee on Post-Retirement Needs and Risks. Anna completed 60 years as a Fellow of the Society of Actuaries in 2023. She has written for several publications and serves on the board of the Women’s Institute for a Secure Retirement (WISER) and the advisory board of the Pension Research Council.  She previously served on several government advisory groups.