Are you afraid of outliving your money and assets?

1. 95

   cat on a soapboxposted 11 years ago

   Are you afraid of outliving your money and assets?

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2. 59

   duffsmomposted 11 years ago

   Oh yes, I am pretty sure I will as the years are passing much faster than the assets are growing.

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   1. 95

      cat on a soapboxposted 11 years agoin reply to this

      I know !Costs are increasing too.  I try not to be fearful, but I am really reigning in  spending and being careful.

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3. 69

   Mr. Happyposted 11 years ago

   I prohibit myself from indulging in Fear. It is a trait from my Dacian Ancestors. I have the Will to survive. : )

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   1. 95

      cat on a soapboxposted 11 years agoin reply to this

      I've honed my survival skills too- just in case

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4. 61

   brianc2kposted 11 years ago

   That has already happened.  Any financial cushion that was there has been exhausted.  My wife had heart attack three years ago.  We are both out of work and the only insurance in place was Cobra.  In our situation Cobra didn't cover that much so most of our "savings for future" are gone.
   
   With today's economy and employment situation I'm sure it is going to get a lot worse before it gets better.  More and more people are loosing assets each day.  Those approaching senior years that have no fear are fools.  Costs keep rising and as duffsmom says assets/savings cannot grow at the same pace. 
   
   Sooner or later you get hit with the fact that a dollar saved is not worth that same dollar in real life when you retire.  Outliving your money and assets is a real situation that few people think about or plan for.  And I'm not sure with the way things are going one can plan well enough to be completely safe.

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5. 73

   lburmasterposted 11 years ago

   No. That is the point of saving money. To leave your family and friends with all that you've saved. Yes, you use most of your savings in retirement, but there should be a decent amount left for them. After all, they put up with you through everything.

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6. 67

   LandmarkWealthposted 11 years ago

   Due to much longer life expectancies, those of us in the retirement planning field have had to address this much more than in the past.  In many cases there are individuals living longer in retirement than they actually worked.  Each case must be addressed individually.  However a good rule of thumb is to limit withdrawals from retirement assets in retirement to no more than 4% per year if your retire in your early 60's.  A withdrawal rate in excess of that runs a greater probability of asset depletion.  Much of this depends on the sequence of your investment returns rather than your average return.  But it is advisable to stress test your retirement projections annually regardless of whether or not you're saving for retirement or already retired.  Retirement planning involves numerous moving variables.  Have your planner run a detailed monte carlo simulation using worst case scenario, and redo it once a year,

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7. 69

   connorjposted 11 years ago

   
   
   No I am not. However, I do indeed plan to address this potential issue (somewhat). I walk more than I drive in my car, I still play ice hockey (old timers) and work out at our (college) gym three times a-week. I am certainly looking forward to my retirement years (80s to 120s); however, (once again) I currently enjoy my occupation significantly and I am in no hurry to retire. I just turned 26 for the second time and I hope to continue (with God's Grace) for another 28 years before I retire. Although (keep in mind) a wise man called Neils Bohr once said, "the only constant in life is change" Therefore, no I am not afraid of outliving my money I believe God will provide...

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