A well designed financial plan should account for potential risk and protect you if those unplanned events occur. True financial security planning means that you have a plan in place to protect against what could go wrong so that you can afford the luxury to invest for what goes right.
Planning for long-term growth can be a little easier if your strategy also hedges against risk. Prudent and responsible people don’t bet with something as important as their financial future and ability to provide their family with financial security. When it comes down to potentially outliving your retirement income, those are odds you do not want to face..