AfroEconomics #69: Your biggest financial fear

What is your greatest retirement fear? Research suggests that outliving your money will likely be one of the top answers. In fact, 51% of investors surveyed for a 2019 AIG retirement study ranked outliving their money as their top anxiety. Retirees face greater “longevity risk” today. The Census Bureau says that Americans typically retire around age 63. Social Security projects that today’s 63-year-old's will live into their mid-eighties, on average. This is a mean life expectancy, so while some of these seniors may pass away earlier, others may live past 90 or 100. Here are some key tips on how to reduce your financial fears when it comes to retirement.

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