Worried You'll Run Out of Money in Retirement? Don't Do This.
Yahoo Finance ·
One of the biggest fears retirees face isn't a stock market crash, unexpected expenses, or health problems -- it's the possibility of outliving their savings. And that concern is understandable. After all, once you're no longer earning a paycheck, your nest egg might have to last for decades. And there's no guarantee how long your retirement will be. But there's one mistake you might risk making in an effort to preserve your retirement savings . And it's something that could have a truly negative impact on your senior years. Many retirees are so worried about running out of savings that they underspend year after year. But if fears of running out of money cause you to do things like pass up vacations, limit yourself to low-cost hobbies only, and defer home improvements indefinitely, you may end up doing yourself a serious disservice.
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