December 16, 2016 | 5years | Retirement Planning News
The fear of running out of money tops the "worry list" of savers' concerns, both ahead of and during retirement, a poll of 252 financial advisers has found.
The survey, conducted by fund manager Schroders, asked advisers to name their clients' biggest concerns. A third of the votes, 33%, went to worries over "running out of money/how long they will live".
Second place on the worry list was not knowing the total amount needed for retirement, which polled 24%; followed by "how much money do I need to take each year?", which took 16% of the vote.
The other three big concerns were: uncertainty over how much should be set aside in a pension each year (11%); worries about further falls in income (8%); and not understanding drawdown (7%). The remainder of the vote was "other".
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