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14 Reasons You Might Go Broke in Retirement

April 3, 2022

From the Kiplinger website

As 10,000 baby boomers turn 65 every day and count down the minutes to retirement, they’re also counting their savings – and taking stock of their fears. According to the latest Transamerica Retirement Survey conducted by The Harris Poll and published in December 2019, the single greatest retirement fear is outliving savings, cited by 48% of those polled. Social Security, a primary source of retirement income for many, is front-of-mind to those surveyed: 77% are concerned Social Security will not be there for them when they retire.

It’s time to face your fears, especially as uncertainty in the age of COVID-19 ravages the economy and clouds our future. Before you start your retirement journey, learn more about these common reasons why some retirees wind up broke in their golden years. More importantly, learn what you can do now to avoid that fate.

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From → Finance

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