May 15, 2015 Fact of the Day: What percentage of Millionaires fear they will run out of funds in retirement?
DID YOU KNOW THAT ALMOST A THIRD OF MILLIONAIRES ARE WORRIED ABOUT DEPLETING THEIR RETIREMENT FUNDS TOO EARLY?
When asked to rank themselves on a scale of 1 to 100, Millionaires ranked themselves at a 32.77...if they felt they would run out of their retirement savings too fast. That means that about a third are worried they won't have enough to last through their lifetime.
When asked why they thought they might be short on funds....70 percent indicated they were primarily worried about the Cost of Healthcare. Almost 50 percent were worried about Taxes. In contrast, only 30 percent were worried about spending Too Much. An additional 43 percent were worried about Low Interest Rates.....the low rates won't allow them to safely invest their money and still maintain an income stream.
For more information on the financial attitudes and behaviors of Millionaires, click here.