Don't Let the Fear of Spending Spoil Your Retirement

If you have done any research on retirement, you have likely read that the No. 1 concern for retirees is that they will outlive their money.

This is a valid concern due to several factors. Americans are living longer. Health care costs are rising. Pensions (defined-benefit plans) are a thing of the past. Today, many retirees are nearly 100% dependent on Social Security and whatever money they have been able to stash away in retirement plans, such as IRAs, 401(k)s, 403(b)s, etc.

It is easy to have hesitations about the future, and it is smart to be careful about your spending in retirement. However, my biggest concern is that some retirees are so worried about

You're reading a preview, sign up to read more.

More from Kiplinger

Kiplinger10 min read
10 Growth ETFs to Buy for Backside Protection, Too
Growth exchange-traded funds (ETFs) are as straightforward as they sound: They're portfolios of growth stocks. By definition, a growth stock is any company with an above-average growth profile. In other words, they are companies whose revenues and ea
Kiplinger5 min read
Should You Supplement Your Traditional 529 with a Private 529 College Plan?
When it comes to the college savings conversation, I usually stick with suggesting the traditional 529 plan when helping people choose the right savings and investment vehicle for the goal of funding higher-education costs. Being in New York gives m
Kiplinger3 min read
How Much Can You Contribute to a SIMPLE IRA for 2019?
A Savings Incentive Match Plan for Employees IRA, or SIMPLE IRA for short, is a retirement plan designed for small businesses with 100 or fewer employees. Though a SIMPLE IRA is an easier and less expensive plan for employers to set up than a traditi