Almost Half of All Americans Fear They'll Outlive Their Savings
Living a long time is obviously something to aspire to. But when most Americans consider their potential longevity, they're faced with a nagging concern: What happens if they last longer than their money?
This is actually a pretty big worry for many of us, with respondents to a recent survey by the financial services company Northwestern Mutual indicating that, on average, there's a 45% chance they'll outlive their savings. Yet despite fears about ending up a broke senior, 41% of respondents said they haven't taken any steps to address this concern.
There's a very real chance many people won't have enough money to support them through their later years -- especially as the same survey found 22% of Americans have under $5,000 saved for retirement and 15% have nothing saved at all.
Source Fool.com
