Uncompromised Risk Management Planning
The art of efficient risk management is to manage the risks that you are capable of managing and to insure against those you can’t. In the financial planning context the risks you cannot manage are your death or incapacity before retirement. These events will interrupt the income required by yourself and/or your dependents, and will also interrupt the accumulation of capital for retirement. Insuring against unforeseen risk is therefore essential when investing in your future.