The likelihood of outliving your assets is REAL!
Due to dramatic advances in life expectancy, new retirees
can look forward to nearly two decades of retirement or
more. A large and growing number of retirees will spend
three or even four decades in retirement. Some retirees will
spend their last years financially secure, able to concentrate
their time and energy on family, friends, personal growth,
enjoyment and the building of their legacies.
...but many will not.
Concerns and problems with traditional retirement
funding mechanisms such as Social Security and
traditional pensions mean that more retirees and near-retirees
will need to rely upon their personal savings to
get by – whether the savings are in defined contribution
plans such as 401(k)s and IRAs or in other available
savings alternatives.