All this talk in the news lately about bed bugs has my skin crawling. I have a strong dis-like for bugs in general and truthfully I'm just afraid of them. 

What are you afraid of?

Heights?  Dark Rooms?  Snakes? The IRS? How about Death?  All these may be frightening to some, but to a majority of older Americans, the possibility of outliving their savings is even worse. In a new poll of people ages 44 to 75, more than three in five (61 percent) said they fear depleting their assets more than they fear dying!

Even among the middle aged, 44 to 54, 56% are afraid they won’t be able to cover their basic living expenses in retirement.

Not surprisingly, workers who had traditional pension plans through their employers “seemed more calm and secure” about their ability to live comfortably in their later years, according to the this poll.
But for those relying on social security, personal savings or 401(k) plans to fund their retirement there was anxiety and fear for their prospects of a secure income in retirement. 

It's not surprising that many Americans are anxious about the financial future. Most saw their net worth drop significantly during the economic downturn. Yet despite their fears, a majority of respondents among all age groups said they believe their retirement lifestyles should surpass that of their parents. Certainly sounds like a disconnect with reality.

The poll also found that nearly all respondents (92 percent) agreed that the United States is facing a crisis in its retirement system. In this month's Retirement Watch Newsletter I am focusing on this issue. We’ll look at the problems and more importantly some answers for insuring sufficient income for your lifetime.

For those clients I serve this is always a #1 concern of mine. What could be more important for a financial advisor? This is our mission. 

There is no magic bullet, but there are strategies and financial products to help accomplish our goals.  So let’s jump in and sign up for a FREE Retirement Planning Seminar below for insight.  


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