Mark Henry, founder of Alloy Wealth, is an experienced financial advisor who focuses on helping clients prepare for retirement through structured financial planning. According to Henry, the process involves developing written financial plans that consider a range of risks, asset types, and individual circumstances. He explains that this approach is intended to help clients work toward greater confidence and financial preparedness as they approach retirement.
Henry notes that retirement planning often involves evaluating a variety of potential risks. One commonly discussed risk, he explains, is market variability. Many individuals hold a portion of their retirement savings in risk assets such as stocks, precious metals, and cryptocurrencies. While Henry acknowledges that these assets may offer growth potential, he emphasizes that they can also experience significant volatility and may not be suitable for all investors.
In his view, retirement planning also frequently accounts for other considerations, including longevity risk (the possibility of living longer than expected), healthcare expenses, and lifestyle-related costs that may arise later in life. Henry points out that estimates often suggest that medical expenses not covered by Medicare can be substantial, and that some retirees encounter higher-than-expected spending due to services such as home maintenance or personal assistance.
While emphasizing the importance of recognizing these risks, Henry believes that a more secure financial position may be achievable for many individuals approaching the later stages of their careers. In a recent YouTube presentation, he shared his perspectives on several common retirement planning myths.
“You Need $2 Million to $3 Million to Retire”
According to Henry, there is no universal savings target that determines retirement readiness. He explains that preparedness is less about reaching a specific number and more about understanding how assets, expenses, taxes, and long-term goals interact within a written plan. Henry believes that income strategies designed to provide greater predictability can be part of that process, with the broader aim of helping individuals plan for peace of mind during retirement.
“You Can’t Retire Before 65”
Henry also challenges the idea that retirement must occur at a specific age. He explains that, in his experience, retirement timing varies widely depending on individual circumstances and planning considerations. While some people choose to continue working for personal fulfillment, Henry notes that others may explore retiring earlier if their financial plan supports that choice.
“You’ll Spend Less in Retirement”
Henry believes that assumptions about reduced spending in retirement can be misleading. He explains that retirees often continue to spend on travel, hobbies, healthcare, and lifestyle needs. In his view, a structured financial plan accounts for these possibilities by realistically assessing expenses rather than assuming costs will automatically decline.
“Taxes Will Be Lower After Retirement”
Henry believes current tax rates may be relatively low by historical standards, though future tax policy is uncertain. He notes that some retirees, depending on individual circumstances, explore tax-advantaged strategies such as Roth accounts as part of a broader planning approach. According to Henry, tax considerations are one factor among many that may be evaluated when developing a retirement plan, rather than a one-size-fits-all solution.
This article is for informational purposes only and does not constitute investment, tax, legal, or financial advice. Alloy Wealth does not provide personalized investment recommendations through this publication. Readers should consult a licensed financial professional regarding their individual circumstances. The views and perspectives discussed in this article reflect the opinions of Mark Henry of Alloy Wealth and are based on his professional experience.
