Episode 40: "Why People are Running Out of Money in Retirement"

Whether you're a GenY, Millennial, GenXer, or Boomer, one of the biggest fears is running out of money in retirement. In this episode, retirement experts Tom Mosley and Kristin Oakley dive deep into the reasons why so many people face this daunting reality. From the average savings per age group to the impact of longer lifespans, we explore the critical factors contributing to financial shortfalls in retirement. We'll discuss: •How living longer is affecting retirement. •The effects of 30.4 million Americans turning 65 by 2030. •Specific reasons why people are running out of money, such as insufficient savings, inflation, unexpected expenses, healthcare, long-term care costs, poor investment decisions, and debt. Plus, we offer actionable solutions to help you avoid these common pitfalls and secure your financial future. Jump to a segment using the 𝘁𝗶𝗺𝗲𝘀𝘁𝗮𝗺𝗽𝘀 𝗯𝗲𝗹𝗼𝘄! 👇 TIMESTAMPS 00:00 Why People Run Out of Money in Retirement 09:15 Average amount saved per age group 14:14 People are living longer 16:55 30.4 million Americans will turn 65 by 2030 20:11 People are running out of money due to: Insufficient Savings 23:53 People are running out of money due to: Inflation 27:17 People are running out of money due to: Unexpected expenses 29:20 People are running out of money due to: Health Care/Long Term Care Costs 32:25 People are running out of money due to: Poor Investment Decisions 37:12 People are running out of money due to: Debt 40:00 Solutions: Start early and save consistently 44:44 Solutions: Create a Retirement Plan Have specific questions for Tom and the team at Mosley Wealth Management? Contact us here 👇 https://mosleywealthmanagement.com/contact/ ============================================== If you enjoy this content, please 𝐒𝐔𝐁𝐒𝐂𝐑𝐈𝐁𝐄! https://www.youtube.com/channel/UCPMvD3G1cZA1Kz4CKnwynhA?sub_confirmation=1 ============================================== ⭐ 𝐂𝐎𝐍𝐍𝐄𝐂𝐓 𝐖𝐈𝐓𝐇 𝐔𝐒 𝐎𝐍 𝐒𝐎𝐂𝐈𝐀𝐋 𝐌𝐄𝐃𝐈𝐀⭐ - Facebook: https://www.facebook.com/mosleyeaseintoretirement - Instagram: https://www.instagram.com/easeintoretirement/ - LinkedIn: https://www.linkedin.com/company/mosley-wealth-management Learn the key components you need to include in your retirement plan, check this video out: https://youtu.be/QkJzvbZ_gDs #Runningoutofmoneyinretirement #RetirementIncome #RetirementPlanning #RetirementStrategy #FinancialEducation #FinancialLiteracy #HowToRetireEarly #RetirementPlanningAt60 #HowMuchDoINeedToRetire #HowToRetireEarly #RetirementPlanningTips #FinancialAdvisor #SocialSecurity
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