According to a study from 2021*, running out of money in retirement scares most people more than dying. The concern is real, as longer lifespans can mean a retirement that lasts 30 years or more. Generating retirement income that lasts requires careful planning. But it starts with having a sense of when and where you want to retire, and what kind of lifestyle you envision. A financial professional can help you work through these and other questions.
*Reclaiming the Future white paper referenced in article ‘What Happens if I Really Do Run Out of Money in Retirement?’ Retrieved and updated on July 19, 2022, from newretirement.com and allianzlife.com