Fears of a Boomer

Here's another measure of economic confidence, coming from a different direction than yesterday's survey: Allianz Life Insurance found that American baby boomers fear outliving their life savings in retirement more than they fear death itself. According to the survey, 61 percent of boomers are more afraid of living out their days penniless than they are of dying.

A lot of this is clearly the result of simply not knowing what the future holds and how to plan for it. Only about half of the baby boomers surveyed said they felt comfortable assessing how much income they'd need to live comfortably in retirement. And 31 percent say they're not even sure what their expenses would be once they're retired.

Helpfully enough, by dealing with the knowledge and strategies required to put a reasonable retirement plan in place, we can simultaneously deal with the fear of outliving your savings. If you're unsure of how much income you'll need to retire in the lifestyle you've become accustomed to, feel free to give me a call.