The top retirement fears, and how to tackle them

When thoughts turn to retirement, they often revolve around how one will enjoy this new-found leisure time. But those thoughts also land on some of retirement’s potentially more worrisome aspects. After all, much as most of us like to think of retirement as a carefree existence, we know well that no phase of life is without risks.

What sorts of things do workers fear most about retirement? According to a recent survey conducted by the Transamerica Center for Retirement Studies (TCRS), here are the top three:

+ Outliving their money (reported by 51 percent of survey respondents)

+ Social Security being reduced or eliminated (47 percent)

+ Declining health that requires long-term care (45 percent)

Approximately one-third of workers also fear cognitive decline such as dementia or Alzheimer’s (35 percent) and lack of adequate and affordable health care (32 percent).

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