Retirement is a major milestone that brings many life changes. One thing that doesn’t change for most people: the fear of running out of money. According to a recent survey from the Transamerica Center for Retirement Studies,the most frequently reported retirement worry is outliving savings and investments.Across all ages, 44% of respondents cited this concern, and 41% of retirees claim the same fear. Additionally, 47% of retirees don’t think they’ve built a nest egg large enough to last through retirement.
Now is the time to face your fears. Look at our 11 ways you could go broke in retirement and learn how to avoid them. Some you can avert with careful planning; others you have little control over. But you can prepare your finances to make the best of whatever may come.