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Top retirement concern? Going broke

A big question of people planning for retirement is, “How can I be sure I’ll have enough to last?” This kind of planning is good. But while you’re making plan, don’t forget to consider how you will continue your giving in your retirement too.

Running out of money is the number one concern among people planning for retirement. That’s according to a new survey of CPA financial planners conducted by the American Institute of CPAs (AICPA). They said 30 percent of their clients are worried about going broke in retirement. The second highest concern, cited by 28 percent of CPA financial planner clients, was similar: Not being able to maintain their current lifestyle or spending levels.

These findings actually represent an improvement over the AICPA’s last survey, which was conducted in 2016 and found that 41 percent of clients were worried about running out of money in retirement. Michael Landsberg, a member of the AICPA Personal Financial Planning Executive Committee, attributed clients’ increased confidence to the stock market’s positive performance.

“There’s been a relatively steady increase in asset values over the last few years,” he said. “This, in turn, has led to stronger client balance sheets and presumably increased confidence that their money will continue working for them well into retirement.”

Read the full story at Sound Mind Investing.
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