Will You Run Out of Money Before You Run Out of Life?

Will You Run Out of Money Before You Run Out of Life?: Planning & Strategy for a Sound Financial Future

by Stephen Costanza

5 out of 5

Language	:	English
File size	:	2832 KB
Text-to-Speech	:	Enabled
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	151 pages
Lending	:	Enabled
Screen Reader	:	Supported

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Retirement is supposed to be a time to relax and enjoy the fruits of your labor. But what if you run out of money before you run out of life? It's a scary thought, but it's one that many retirees face.

According to a study by the Employee Benefit Research Institute, 44% of retirees say they are worried about outliving their savings. And for good reason. The average retirement lasts for 20 years, and that's a long time to live on a fixed income.

So, what can you do to avoid running out of money in retirement? Here are a few tips:

1. Start saving early.

The sooner you start saving for retirement, the more time your money has to grow. Even if you can only save a small amount each month, it will add up over time.

2. Save enough money.

How much money you need to save for retirement depends on a number of factors, including your age, health, lifestyle, and investment goals. But a good rule of thumb is to save at least 10% of your income each year.

3. Invest your money wisely.

Once you have money saved, it's important to invest it wisely. This means choosing investments that have the potential to grow over time, while also protecting your principal. A financial advisor can help you create an investment portfolio that meets your needs.

4. Work longer.

If you think you might not have enough money saved for retirement, you may consider working longer. This will give you more time to save and invest, and it will also delay the start of your retirement benefits.

5. Downsize your lifestyle.

If you're worried about running out of money in retirement, you may need to downsize your lifestyle. This could mean moving to a smaller home, selling your car, or cutting back on your spending.

6. Get help.

If you're struggling to save for retirement, there are a number of resources available to help you. You can contact a financial advisor, a credit counselor, or a non-profit organization that specializes in helping people with their finances.

Running out of money in retirement is a serious concern, but it's one that can be avoided. By following these tips, you can help ensure that you have enough money to live comfortably for the rest of your life.

Here are some additional resources that you may find helpful:

• Social Security Administration
• Medicare
• IRS Retirement Plans
• AARP Retirement Planning
• Fidelity Retirement Planning

Will You Run Out of Money Before You Run Out of Life?: Planning & Strategy for a Sound Financial Future

by Stephen Costanza

5 out of 5

Language	:	English
File size	:	2832 KB
Text-to-Speech	:	Enabled
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	151 pages
Lending	:	Enabled
Screen Reader	:	Supported

FREE