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Terry Savage: Dealing with fear in retirement
Savage says retirees need more than savings, noting that fear now includes health, family and long-term care concerns.
- Financial expert Terry Savage says retirement concerns now extend beyond simply "having enough" money, a significant shift from her 20-year-old book, 'The Savage Number: How Much Money Do You Really Need to Retire?'
- Through his monthly 'Retirement Fear Index,' retirement coach David Conti tracks what retirees and pre-retirees actually worry about. This analysis reveals specific anxieties that often keep people awake at night.
- Healthcare and long-term care costs rank among the top concerns, alongside longevity risk—the fear of outliving savings. Conti notes these "anxieties" often disrupt sleep in the middle of the night.
- Reframing vague fears into "actionable concerns" helps individuals address them through education. Savage and Conti advise becoming educated, as it helps you "save more, spend less," and put worries to rest.
- Experts emphasize the need to "identify all your concerns"—from yourself, your spouse, and trusted advisers—to give them a name. Conti suggests consulting a fiduciary financial planner to address these worries systematically.
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Terry Savage: Dealing with fear in retirement
Once upon a time, a retirement free of fear was defined as“ having enough money.” In fact, about 20 years ago I even wrote a book called“ The Savage Number: How Much Money Do You Really Need to Retire? But…
Coverage Details
Total News Sources22
Leaning Left3Leaning Right0Center19Last UpdatedBias Distribution86% Center
Bias Distribution
- 86% of the sources are Center
86% Center
14%
C 86%
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