Sequence of Returns Risk before Retirement.

Financial advisors are well aware that starting retirement during a bear market can significantly increase the likelihood of a retiree outliving his or her assets. At the outset of a bear market a retiree must withdraw more principal, compared to capital. While the notion of sequence of returns risk is generally well known among retirement advisors, it is important to recognize this risk also exists for those accumulating assets. The problem is clearly apparent in the context of a typical retirement financial planning case scenario. [ABSTRACT FROM AUTHOR]