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Original publish date March 19, 2016 (hour 2). Note that content may be outdated as rules and regulations have changed. In episode 12 of the YMYW podcast, Joe and Al talk retirement risk. While risk can come in all shapes and forms, it's important to avoid making these risks when planning to maintain your lifestyle in retirement. Al closes off the discussion by discussing a fun personality quiz by Mashable you can take to figure out what your retirement passion project will consist of.

00:00 - Intro

01:01 \u201cWhen you\u2019re in your 20\u2019s and 30\u2019s, you\u2019ve got a long run in front of you and can afford to take on risk, but if you\u2019re retired or close to retiring, risk is enemy number one. Taking on too much risk at that stage of the game can be devastating because you may not be able to recover\u201d

06:56 \u201cYou better make sure that you have a plan to make your money last into your 90\u2019s\u201d

13:21 \u201cIf you\u2019re saving 4% this year, save 5% next year, 6% the year after and get yourself to the point where you\u2019re saving between 10% and 15%, and if you\u2019re older and getting closer to retirement and you\u2019re behind, there\u2019s no time to waste\u2014you have to save as much as possible right now\u201d

13:42 \u201cForbes had thirteen financial risks you can avoid; here are some examples\u201d

18:04 \u201cUnfortunately, taxes are likely going up in the future\u201d

22:36 \u201cOne of the biggest misconceptions in retirement planning today is that you will be in a lower tax bracket in retirement\u201d

29:10 \u201cOne in three Americans have zero dollars saved for retirement\u201d (Source: Bankrate.com)