Americans’ biggest retirement fear

The following interview was recently published in the Journal of Accountancy. In it Susan Tillery, Susan president and co-founder of Paraklete® Financial, Inc., a fully-integrated personal financial planning (PFP) firm, uncovers one of the greatest fears Americans have as they grow older.

As the 4 million people retiring this year think about the future, they fear outliving their money more than anything else.

Forty-one percent of CPA financial planners say running out of money is their clients’ top concern about retirement—including those clients who have a high net worth, according to a survey conducted recently by the AICPA.

Susan Tillary 1x1.25“The elderly are living longer than their projected longevity and, as a result, are running out of money,” said Susan Tillery, CPA/PFS, chair of the AICPA’s PFS Credential Committee. “The fear of running out of money in retirement has always been present. However, we are at a demographic crossroads where the Baby Boomers, who hold the largest amount of retirement assets, are supporting both their parents and their children. This has amplified the fear.” Please continue reading here.

 

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