As 10,000 baby boomers turn 65 every day and count down the minutes to retirement, they’re also counting their savings – and their fears. They’re not alone. According to the latest Transamerica Retirement Survey, the single greatest retirement fear is outliving savings, which was cited by 52% of those polled. Indeed, 38% of workers aren’t confident they will be able to retire with a comfortable lifestyle, the survey found, and 46% don’t believe they are building a large enough retirement nest egg.
It’s time to face your fears. Before you start your retirement journey, learn more about the common reasons why some retirees wind up broke in their golden years. More importantly, learn what you can do now to avoid that fate.