Addressing the Fear of Outliving Savings

Many retirees grapple with the anxiety of outliving their savings, particularly as life expectancy increases and healthcare costs continue to rise. The average American can expect to live until around 77, but reaching 65 often means living for another 20 years or more, necessitating careful financial planning. Research indicates that nearly half of retirees feel unprepared financially for their retirement, leading to the necessity for a strategic approach. It is crucial to establish stable income streams that can provide financial security throughout retirement to mitigate this pervasive fear.