Breaking down retirement risks
The transition to retirement fundamentally changes the nature of risk. A worthwhile approach is to distinguish risks based on whether they jeopardize the asset side of the household balance sheet, or the liability side (future spending needs) of the balance sheet. Another division could be whether the risks impact society at a macroeconomic level, or whether they are individual specific.
Pfau, Wade, "Breaking down retirement risks" (2014). Faculty Publications. 127.