6 Signs You May Run out of Money in Retirement

One of the biggest fears anyone has about retirement is the prospect of running out of money. Even with meticulous planning, it is possible to go broke in retirement if you do not stick to a clear budget and account for changes in your finances. Naturally, planning your finances carefully before retirement will reduce the chances that you run out of money, but it is important to check in regularly to ensure you are still on the right track and make adjustments if necessary.

Also, some red flags might arise while you are retired that could put you at risk of going bankrupt. Learning to recognize these signs will put you in a good position to reevaluate your position and shift your spending. Some of the red flags to look out for include:

1. Underestimating taxes

2. Getting divorced

3. Taking on new debt

4. Ignoring market fluctuations

5. Spending a lot on health care

6. Lending money

Originally published at https://robertryerson.me on June 9, 2021.

Robert Ryerson authored the 2016 book What’s the Deal With Identity Theft?: A Plain English Look at Our Fastest Growing Crime.

Robert Ryerson authored the 2016 book What’s the Deal With Identity Theft?: A Plain English Look at Our Fastest Growing Crime.