Most of us never thought much about running out of money when we were younger. In our 20s, 30s, even 40s, the biggest fear was death.
Why?
Because we always assumed we’d just keep working, earning, and replacing what we spent. Running out of money didn’t even cross our minds.
But everything changes as we approach retirement. At some point, the paychecks stop. And then the real fear sets in: What happens if I outlive my money?
Need help choosing the best annuity for your unique situation? Have questions about getting an annuity? If so, it’s best to speak with an annuity specialist. Watch this short video to see how I can help you do this (at no cost to you!)
Tip: See how much an annuity could pay you using our annuity calculator.
Why Running Out of Money Feels Worse Than Death
Surveys consistently show retirees fear running out of money more than dying. That might sound extreme, but let’s break it down:
- Death is final. It’s abstract, and for most of us, it happens quickly.
- Outliving your money is prolonged. It’s a slow, drawn-out loss of independence, dignity, and security.
- Economic uncertainty makes it worse. Inflation, healthcare costs, and worries about Social Security only fuel the anxiety.
- It affects your loved ones. If you can’t cover your costs, the burden shifts to family members.
💡 Pro Tip: A bad financial plan in retirement often feels like “planning to die at a certain age.” That’s no plan at all. What if you live longer than expected?
👉 Want peace of mind that you’ll never run out of money? Schedule a call with me here.
Why “Planning to Die at 82” Doesn’t Work
I’ve talked to retirees who say, “I’ve got my withdrawals mapped out until age 82—after that, I’ll probably be gone.”
But what if you live to 95? Or 100? The reality is, none of us know how long we’ll live. Hoping you’ll die before your money runs out is a terrible retirement strategy.
Instead, you need a plan that works no matter how long you live.
The Power of Guaranteed Income
That’s where annuities come in. With the right annuity, you can lock in income for life—just like creating your own personal pension.
Here’s an example:
- Couple, both age 62
- Invest $700,000
- Begin income at age 67
Result? Over $72,000 per year guaranteed for life (for both spouses). That’s income you’ll never outlive, no matter what happens in the markets or the economy.
And this income is on top of Social Security, giving you true financial peace of mind.
👉 Curious how much guaranteed income you could get? Run the numbers with my free annuity calculator.
Balancing Growth and Security
Now, I’m not saying put 100% of your money into annuities. My favorite strategy?
- 70–75% MAX into annuities for guaranteed income
- 25–30% in growth investments for future opportunities
That way, you enjoy the best of both worlds: steady paychecks you can never outlive, plus long-term growth.
Why This Matters for Your Retirement
At the end of the day, retirement should be about enjoying life, not worrying about outliving your money.
With guaranteed income, you:
- Keep your dignity
- Protect your independence
- Never become a financial burden
- Sleep better knowing the checks will keep coming
Conclusion
Running out of money is a slow, painful decline—one no retiree should have to face. Death may be final, but financial insecurity steals your joy long before that day comes.
The good news? You don’t have to choose between living long and living well. With the right annuity strategy, you can have both.
Need help with finding the best annuity for your retirement?
Click here to schedule a call with me.
On the call, I can help you:
- Determine what type of annuity is best for you
- Find the highest paying annuities for your unique situation
- Answer any other questions you may have