When your career comes to an end, ideally you'll have multiple income sources at your disposal. If you worked for many years, you'll likely have money coming your way from Social Security. But you may end up heavily reliant on your personal savings to cover your senior living expenses, and understandably so.

The more money you manage to bring with you into retirement, the more financial freedom you're apt to enjoy as a senior. But you'll also need to manage your retirement savings carefully. If you don't, you might risk depleting your cash reserves in your lifetime.

Such is a fear that most Americans have, according to a recent Allianz survey. In fact, 61% of Americans are more afraid of depleting their savings than actually dying. Talk about scary.

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Source Fool.com