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Most Americans Worried Their Retirement Savings Will Run Out

As inflation eats into savings and the market downturn punctures retirement funds, many Americans worry they will run out of money once they stop work.

Last month, a survey of nearly 200 Registered Investment Advisors (RIAs) by RetireOne® and Midland National Life Insurance Company reported that 82% of RIAs said their clients worry about outliving their retirement savings. Also, 64% agreed that clients are concerned about retiring on time.

These alarming figures reveal retirement insecurity’s grip over the nation. This phenomenon does not augur well for the long-term health and prosperity of the population, even as a looming recession rattles short-term confidence. Besides the current economic headwinds, workers will have to keep their eyes on the distant horizon of retirement, especially if they are behind. Here are several catch-up strategies for different age groups.

This post originally appeared at Wealth of Geeks.