Afraid you’ll outlive your money? You’re in good company. According to Forbes magazine, outliving our savings is one of the Baby Boomer generation’s biggest fears. And with more and more people living well into their 80s, and beyond, these fears are not unfounded.Said HMA President, Steve Burnett, “You’re going to want to budget.
That means working with an advisor to create an honest cash flow analysis of what your needs are going to be.” Some people find it easy to save, while others don’t.
But part of adapting to retirement, for most people, is learning to save money where and when you can. Yet when asked for perhaps the single most-important advice for people heading into retirement, Burnett didn’t hesitate: “Be debt free,” he said. “While there are plenty of other things to consider, that might be the most important of all.”