What keeps you up at night when you think about retirement? For many Americans, it’s not ghosts, goblins, or things that go bump in the night—it’s the possibility of outliving their savings. In fact, nearly two in three people say their greatest financial concern is running out of money in retirement (1). With longer lifespans, rising costs, and an evolving tax landscape, it’s no wonder retirement can feel uncertain at times.
The good news is that when concerns are named, they can be addressed. Here are three of the “monsters” that often trouble retirement planning—and strategies that may help:
🎃 The Gobbler of Savings
This creature represents the worry that your nest egg won’t last. Addressing it isn’t always about saving more; it may involve coordinating dependable income streams—such as Social Security, pensions, and annuities—with growth strategies that consider inflation and longevity. A withdrawal approach designed around your circumstances can help you use your resources more confidently without depleting them too soon.
🧛 The Tax Trickster
This figure symbolizes how taxes can reduce retirement income more than expected. Tax considerations can feel especially complex when income comes from multiple sources. Potential strategies might include balancing withdrawals across taxable, tax-deferred, and tax-free accounts, considering Roth options, and timing charitable giving. While taxes can’t be avoided, thoughtful planning can help manage their impact.
👻 The Shadow of Surprise
This shadow combines inflation, healthcare needs, and unexpected expenses. While no one can predict the future, preparation can make a difference. Approaches include maintaining a reserve fund for unforeseen costs, exploring coverage for possible long-term care needs, and reviewing your plan against various “what if” scenarios.
Facing the Shadows with Clarity
Retirement doesn’t need to feel like a horror story. By naming these common concerns and exploring ways to address them, you can replace “what-ifs” with clearer next steps.
If these concerns resonate with you, consider scheduling a conversation to review strategies that may fit your situation. Together, we can help bring more clarity and confidence to your retirement planning.
Source:
(1) Allianz Life Insurance Company of North America. “Americans Are More Worried About Running Out of Money Than Death.” Allianz Life, 22 Apr. 2025, https://www.allianzlife.com/about/newsroom/2025-Press-Releases/Americans-Are-More-Worried-About-Running-Out-of-Money-Than-Death.
Investing involves risk, including possible loss of principal. No investment strategy can ensure a profit or guarantee against losses. Insurance product guarantees are backed by the financial strength and claims-paying ability of the issuing company. This material is for informational purposes only and should not be construed as a recommendation or advice for your particular circumstances. We are not affiliated with any government agency and do not provide tax or legal advice.
