How to Help Address the Concern of Running Out of Money in Retirement

 

If you’re one of the millions of Boomers nearing retirement and concerned about running out of money, you aren’t alone. According to a recent survey, it’s a fear in retirement planning among Americans, and for good reason. While you can’t predict how long you’ll live or even how your health care and other living expenses will change, there are steps you can take to help secure your finances in retirement.
 

In this article I recently wrote for Forbes, “A Solution For The Top Concern In Retirement Planning: Running Out Of Money,” I explain realities that could be on the horizon, and what steps you might want to consider to help secure your retirement and avoid outliving your money.

Excerpt from Forbes:

Most of us dream of living a nice, long retirement during which we can enjoy time with family, relax and not have to worry about waking up to an alarm clock every day. But that retirement dream requires a financial strategy to achieve -- and a good financial strategy to make it last.

With the average life expectancy longer than it's ever been, it is necessary for savings and retirement income to last much longer than many expect. This can be a difficult feat, as many Americans haven’t saved nearly enough to get through just a few years in retirement, much less 20 or 30.

According to a recent survey, the top overall retirement planning concern is running out of money -- even for high net worth individuals. If you have similar concerns, know that you are not alone.  

You can read the full article here.

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Cindy Collins

Written by Cindy Collins

Forbes Contributor & Retirement Financial Professional

Cindy Collins is a Heyday Retirement contributor with over 30 years of experience in personal financial services.

Heyday is a premier source for comprehensive tools and informative content designed to help retirees build a secure retirement income plan.

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