If you live another 30 to 40 years beyond today, how much money would you need to survive? Do you know? Have you given it much thought?
How much longer could you survive based on your savings right now?
These are questions some of us don’t think about or don’t want to think about but the truth of the matter is, the future is going to look gloomy for many baby boomers and they know it.
In a survey, people between the ages of 44 and 75 were asked what they feared more: death or running out of money.
61 percent said they feared running out of money
39 percent said death
56 percent said they are afraid they won’t be able to cover their basic living expenses in retirement.
36 percent said they had no idea whether their nest egg was sufficient
Allianz Life Insurance Co. of North America, conducted the poll of 3,257 people
I’m still trying to figure out why I’m never included in these surveys.