Nervous About Retirement? 2 Top Concerns for Many Nearing Retirement

When preparing for a big life change, you’re bound to have some fears, hesitations, and other thoughts that may or may not cause some stress-related dreams. Retirement would be considered one of these “big life changes.” Thankfully, you’re not alone! We’re here to help you prepare for your exit from the working world to enter retirement.

Here are a few of the top concerns many retirees have when on their retirement journeys, and how you can better prepare yourself for the future.

Not having enough money

If you’re preparing for retirement, you lived through the recession of 2008, have seen prices continue to rise over the years due to inflation, and have seen enough market dips for this concern to be justified. We have seen plenty of economic events over the years for many people to have pause when they consider shifting from earning money for retirement to living off those funds for the rest of their lives.

Running out of money

Almost a third of those nearing retirement are concerned that they might run out of money at some point in their lives.¹ Moving from the mindset of earning to the mindset of spending can be a big mental hurdle for retirees. After all, you’ve spent your entire career preparing for this exact moment, so there’s a shift that has to take place.  

While there will always be a certain degree of uncertainty in life, these retirement concerns can be prevented to an extent. Working with a seasoned financial professional can help you take that first step. They have access to the tools, products, and services that can help you transition from your working years into retirement with added confidence that you’ve created an income that can last you the rest of your life.

Take the first step toward that today by attending an American Retirement Institute course in your area or online today!

^{1 https://www.cnbc.com/2020/09/14/plan-for-volatile-markets-and-uneven-expenses-to-preserve-your-savings.html}

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