14 Financial Strategies To Avoid Running Out Of Money In Retirement

One of the most common questions I get asked by people thinking of retiring is, “What do I need to do to ensure I won’t run out of money in retirement?” If you’ve asked this question, you have reasons to be concerned: Healthcare is costly, most people live longer, and inflation has eroded purchasing power. The list goes on and on. If you haven’t asked this question, you either have a ton of money or are in for a rude surprise later in retirement.

Proper retirement planning cannot completely eliminate the risk of running out of money in retirement, but it sure can make it much less likely. More importantly, it can allow you the financial freedom to get more joy during your retirement versus spending the next 30 years stressing out that you may or may not go broke as you age. Knowing you can afford that bucket list trip will make it more enjoyable.