Nearly two-thirds (64%) of Americans, including 70% of Gen Xers, fear running out of money during retirement. High inflation, Social Security shortfalls and high taxes rank as the three biggest causes of this fear, according to a new study from Allianz Life.
In the study, more than 60% of baby boomers admitted they fear running out of money. Since many boomers have already retired, this can make them feel as if they have no recourse this late in the game.
