How these two major types of spending shocks will affect your retirement planning

Market performance tends to dominate the conversation about risks to a retirement plan. But spending shocks can also curb a retirement portfolio’s longevity. In Morningstar’s research, we examined the implications of two major types of spending shocks: unanticipated early retirement and uninsured long-term care expenses at the end of life. The former may necessitate spending over a longer period, often with higher healthcare costs in the pre-Medicare years, while the latter can trans...