Don’t Run Out of Money During Retirement

November 28, 2018

The Biggest Fear of Retirement

If you’re in the workforce, there’s a good chance you’ve thought about your retirement to some extent. Whether its while you’re creating your first 401(k) portfolio or you’re getting close to retirement, you’ve probably had an idea of what you want your retirement to look like, however vague.

While a blissful retirement is the endgame most working adults strive for, there’s always a sense of trepidation. If you were to ask most people what the cause is, they would probably tell you the same thing; They’re afraid they won’t have enough money to get them through retirement.

With an increase in life expectancy, ensuring there is enough money for retirement is a struggle many people face. After all, studies show those with a guaranteed income such as pensions, social security, and lifetime annuities tend to be happier during retirement–something we all want!

As my friend, Tom Hagna writes in his book, Don’t Worry, Retire Happy, this fear of running out money during retirement causes us to live a “just in case” retirement. Rather than enjoying retirement, people are afraid to spend their assets just in case something expensive happens. So, how can we ensure we have a retirement free from the fear of the financial unknown?

The Secret to a Happy Retirement

At Sage Wealth Strategy, we understand that living into your 90s during is a very real possibility.

While it is great we will have many more years to enjoy retirement, this increase requires more planning and increases the fear of running out money. The secret to a happy retirement lies in guaranteeing a lifetime income that never runs out.

Helping You Plan for Retirement

As you may have guessed, planning for retirement takes some foresight. You need to ask yourself what you want to do most during retirement and how you will achieve them. If you are like most people, your top priorities will probably require income. If you have a guaranteed, predictable income, it’s much easier to plan on achieving your goals.  

How do we help you create a guaranteed, predictable income? We use actuarial science to lay out a plan that provides you clarity and predictability. With Sage Wealth Strategy as your guide to a happy retirement, you won’t wake up each morning scared you will run out of money. Instead, you will wake up knowing you have a plan in place to help you achieve what you’ve always dreamed of.


Sources:

http://money.cnn.com/2016/01/20/retirement/retirement-guaranteed-income-annuities/index.html

http://online.wsj.com/ad/article/jh_secret_happy_retirement.html


If you’d like to learn about how you can apply actuarial science to your retirement planning process and create guaranteed income during retirement.

Get in touch with Wade Borth at (701) 793-3471 or by email at wade@sagewealthstrategy.com to get started.