Different retirees face different risks in retirement. Some are at risk of running out of money, some others are at risk of abandoning their stock portfolio in the face of huge stock market downfalls, and some others have complicated tax situations and need help with that.

A major risk with financial planning is wrongly diagnosing the risk a certain retiree faces. A retiree who is not at risk of running out of money but has "low risk tolerance" probably needs help with the right retirement strategy that helps them sleep better at night.

Another retiree who is genuinely at risk of running out has a "risk capacity" problem and needs rigorous budgeting and tax calculations done through a retirement planning software. Matching each retiree with the right planning software goes a long way towards solving their underlying retirement problem.