Top Fears of Retirees

It’s October, the month that we typically celebrate “scary stuff” right up until the last day, when Halloween arrives on the 31st. Pretending to be afraid is one thing. But being fearful and anxious in real life, especially as you get older, is not fun at all.

The fears that go along with retirement are exactly why we established Alpha Gamma Wealth Management in the first place. It’s our goal to address retirement risks and help ensure our clients have contingency plans in place so they are prepared—doing everything possible to make sure they won’t get shocked, surprised, or thrown off course financially by unexpected or adverse events.

Based on recent research1, almost half of Americans, 49 percent, say that running out of money is their biggest fear in retirement. Following closely in second place, 44 percent of retirees say declining health is their next biggest concern. Other research by Transamerica2 back in 2015 showed that worrying that Social Security would be reduced or cease to exist, potentially needing long-term care due to physical or mental health decline, and inaccessible or unaffordable health care in the future also topped the list of fears in retirement.

Let’s sit down together and make sure that your retirement plan—from your investments, to your health care budget, to your long-term care provisions, to your tax-advantaged wealth transfer strategies—is current and appropriate for your situation and risk appetite so that you can feel peaceful at night instead of anxious about what might happen.

Our goal is to help protect your money and help protect you from retirement risks. Call Alpha Gamma Wealth Management in Palm Beach Gardens, Florida at (866) 837-0999.

 

 

 

Sources:
1 https://www.aarp.org/retirement/planning-for-retirement/info-2019/retirees-fear-losing-money.html
2 https://www.transamericacenter.org/retirement-research/retiree-survey/retirees’-greatest-fears