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Why it is critical to have lifelong income when you retire
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It pays to plan for a decent amount of cash reserve as well as a stable income source, so that you can still have a good retirement even when the world is in turmoil.
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Growing your wealth through investment may cushion you against price increases due to inflation but a good back-up plan is still critical because all investments carry risks.
There are just too many cautionary tales about people who lose their life savings when their investments go belly up in downturns.
