Never Worry About Running Out of Money in Retirement Again! (3 Fear Breaking Tips!)

To some extent, we all worry about running out of money in retirement. After all, our generation is expected to live longer than any before us... and, let's be honest, most of us haven't saved the amount that we hoped to by this point.
The good news is that we can still take control of our financial fears - both through practical steps and positive thinking.
And, who better to help us deal with our financial worries than financial expert, Pam Krueger? She really is a fantastic woman and I am so happy that she joined us on the show today!
Do you ever worry about running out of money in retirement? Why or why not? What did you think about Pam's advice? Let's have a chat: sixtyandme.com/never-worry-ab...
Thanks to Pam Krueger for joining me today to talk about getting the most from retirement. Visit her website: www.pamkrueger.com/
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Disclaimer: none of the information in this video is intended to be financial advice

[@jan-christinejohnson5256]

Margaret: You are our spokesperson. Thanks for hard-ball questions and being an advocate.

[@susanmurrell635]

There was really no focus on the people who have $50, 000 OR LESS. There comes a point when you can't work...or there are no jobs willing to hire at this age. Not everyone has a money producing hobby!! Only thing I found helpful which I'm sure others as well as myself have already figured out is to look at your spending, see where you can cut back, and start to declutter, downsize and sell your home....but there are people who don't have homes to sell...nor a retirement fund, those are the ones who can't sleep at night. She didn't have advice for them.

[@sixtyandme]

Hi Susan, we have written many articles on Sixty and Me about this topic of reducing spending, downsizing and mindset - i hope you check them out. sixtyandme.com/tag/managing-money-in-retirement/ We have also written about 60 creative ways to make money in retirement since going back to work or working part time is the only way to supplement a pension. Here is that link sixtyandme.com/60-creative-ways-to-make-money-in-retirement/ Wishing you the best - Margaret x

[@pamelahirst6679]

Yes, Susan. So many agree. This is such an elitist talk. Who the heck has a Fiduciary Advisor ??

[@truelily7]

I know! Everyone is not middle class or had a career. I am married and we own our home but my husband is sick and I can't work outside anymore due to that and cognitive issues. We no longer have a car. Long story, but there are many like us. And we are both educated but does us little good money-wise. Hard when you are seen as upper class but you are living at poverty level. People just don't get it.

[@monalisa233]

I work with a lot of people both men and women who are not saving for retirement. It worries me and I take time out to explain our companies pension and how just by putting away a bit here and there it can add up. It was very hard for me to save, divorced with 3 children but I'm glad I did. I have a nest egg and I do check in on my financial well being. I do decide if I want to buy something and is it worth it. I also have plan A, B and C depending on what comes up. It helps to manage expectations. I have a few years left to work. I want to enjoy my retirement with whatever I choose to do with it. I think I would just not like to "have" to show up for work somewhere everyday!

[@sandramacelheron6778]

Great topic, good guest and a difficult subject that I need to deal with.

[@flowergrowersmith449]

Excellent video. One of your best Margaret..

[@AndrewMcGarvie]

You know, the wisdom on this channel isn't just for women:)

[@sixtyandme]

Thanks for your support Andrew! Have a wonderful day!

[@mariadejucilene7659]

I loved the part about separating emotions of fear from maths. I often catastrophize mentally. And, I do best, and have energy to drive forward when I go with the facts not the fear 😉😊thank you for the video x

[@debbieheiman325]

Thanks for the video, it did give me peace of mind. Boy did I need that!

[@denisebissell5875]

Perfect timing

[@joanhendrix5967]

Excellent presentation. I hope you will soon discuss how we feel about money and our millennial children who have huge college debt and jobs that do not have great career potential, as in good benefits, chance for advancement, or savings plans.

[@susanmarie2231]

Great topic! I am 66 on Social Security (just started) and still have to work for a living. I am okay with this as long as I enjoy what I am doing.

[@aerokasyeal4840]

Hey maam

[@carolnewlands8630]

I think she added MORE worry....and she never mentioned social security?? If you have bewteen 500 thousand and 1 million saved and you have social security coming in..and no debt..but rent or taxes and homeowners ...you can live a nice life...not EVERYONE has a hobby that can present income...this whole idea of us getting part time jobs and turning a hobby into a biz..is for very few....I was a recruiter at one time...trust me..45 is old...

[@pamkrueger1915]

Hi Carol, Thank you. Good point. You're absolutely right -- I should have mentioned social security and I left that out knowing most people will (hopefully) receive that as the baseline support for their essential living expenses. I'm actually surprised to learn so many more women are working part time and picking up that much more income that helps them sleep at night. Not as full time careers but in roles such as helping out in a local real estate office-- another real world situation is a woman I'm acquainted who learned social media skills after she turned 63 and now she's managing a high end residential real estate office's Facebook, etc. (She's working more than she wants at 4 days a week, but not complaining because she's making more than she needs). I don't necessarily feel it's the only answer, but I'm inspired by these women who have plugged the gap where they need current income. Another area I didn't mention is when people have investments and they are overpaying or investing in 'products' where they no liquidity or penalties if they try to withdraw, so making your savings work for you in a more efficient and safe way is something that matters that is within our control.

[@henriettalazo9243]

Sorry I did not enjoy presentation. It felt very heavy. I so much enjoy your approach and positivity. Money is peace of mind. I don’t feel that way. There are so many other factors that give peace of mind. Different strokes for different folks. Appreciate your sharing but so prefer your presentations. You just seem to have a way of spreading sunshine when enlightening listeners. Enjoy, Henrietta

[@lindaroschen2334]

Completely agree. Margeret your joy,your sincerity is so refreshing. Yoh are so kind No matter what the topic. YOU SHINE ABOVE ALL OTHERS. THANK YOU.

[@sixtyandme]

Thanks very much Linda for your perspective and feedback. These kind of conversations online are difficult sometimes - the human element of sitting actually side by side is lost. I enjoyed speaking with Pam, but appreciate and understand and respect your point of view!