Pre-retirees may be heavily invested in stocks as they approach retirement which could result in large losses to their investments. Some may invest too conservatively and miss out on large gains, while others may experience upside growth by being too aggessive, but then feel the effects when/if the stock market were to plunge (again). It's important to mitigate this risk the closer you get to retirement.

For a 65 year old couple there is a 50% chance that at least one spouse will live until age 91. Longevity is not just a risk it is a risk MULTIPLIER. If you live long enough, chances increase for another stock market crash. If you live long enough, chances increase that you'll need long term care. A good way to control the effects of longevity risk is to make sure a portion of your retirement income is guaranteed for life.

At top marginal tax rates below historical averages and the US National Debt higher than ever it may be important to use tax-advantageous vehicles to build wealth. If you currently have $1,000,000 in a tax-deferred account, such as a 401(k), a portion of that money does not belong to you, it belongs to the government! For example if you had to pay 30% in taxes then $300,000 would actually go to the government.