Risk 1: Will your savings last as long as you do? One of the most challenging aspects of retirement planning is developing an income strategy that makes it possible for you to live comfortably when you’re no longer working. One of today’s key concerns regarding retirement is longevity. We’re living much longer than we use to. Many people overestimate the amount of income their retirement savings will generate. Roughly one-third of participants in a survey expected to withdraw 8% or 10% of their savings every year in retirement without depleting their assets 2 . With interest rates near historic lows, those amounts are unrealistic.
70% of people are more worried about outliving their money than they are about dying. 1
65
Retirement Age
87
50% of men will live past
93
25% of men will live past
89
50% of women will live past 25% of women will live past
95
93
50% of couples will have one partner live past 25% of couples will have one partner live past
97
1 2
Dynamic Withdrawal Rule--Simplified, FA Magazine
2022 WealthVest Retirement Realities Study
3
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