Which of the following is a common retirement mistake or fallacy that can make a catastrophe out of a precarious position?

Group of answer choices

Increased risk improves the outlook

The long run is less risky

Just get over the hump by flooring the initial years of retirement

All of the above

What is the first step in assessing the situation for a new or existing client who has experienced a substantial market loss?

Group of answer choices

Discuss the purchase of a Single Premium Immediate Annuity $($SPIA$)$

Check the present value of the future lifestyle needs against the current value of the portfolio

Discuss the client's human capital and update their resume

Increase the risk level to make up for portfolio losses