Tips to Avoid Running out of Money in Retirement

Life expectancy is much longer these days. Some people consider this as a blessing while others find this as problematic. Why? Living much longer is associated to more and bigger expenses that will most likely hurt their retirement income or worse, they will run out of money. But don’t worry because there are several ways to deal with this predicament.

Here are some tips from experts of academics and the financial industry:

1. Gradually hike up your stock exposure
2. Focus on saving steadily
3. Periodically adjust your withdrawal rate
4. Set upper and lower limits for withdrawals
5. Ivory tower approach may not work in real world
6. Get long term care insurance policy

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