Of all of the concerns that seniors express when asked about their situation, outliving their savings is one that comes up first and most commonly. A couple of factors make this concern more pressing than it was in previous generations. One is simply that people can expect to enjoy longer lives. The other is that the savings products that used to perform well just aren’t providing good returns these days. It is hard to plan for a retirement that could last for decades, but the earlier plans are made, the better they usually turn out.

Screen Shot 2015-10-28 at 5.43.32 PMHow to Address Concerns About Retirement Savings


The earlier that people can do something about their retirement savings, the better. Once people are already elderly and have used up a lot of their money, it’s more difficult to really improve the situation. A couple of suggestions that can help stretch savings and offer peace of mind may include:


  • Find a good financial adviser who has experience working with retirees and those who are planning for retirement.
  • Try to plan for future medical needs.
  • Consider downsizing ideas that might help reduce the cost of living.
  • If possible, it might be a good idea to delay retirement for a few years to help increase retirement savings.
  • Try to look for programs that might help increase income or subsidize living or health expenses.


There aren’t always easy answers when it comes to trying to stretch retirement savings to last for many decades. If you have questions about retirement annuities as a way to provide a lifetime income, contact us: 1-855-474-6234 or schedule an appointment by clicking here.