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12 Ways to Go Broke in Retirement

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Retirement is a major milestone that brings many life changes. One thing that doesn't change for most people: the fear of running out of money. According to a recent survey from the Transamerica Center for Retirement Studies, the most frequently reported retirement worry is outliving savings and investments. Across all ages, 44% of respondents cited this concern, and 41% of retirees claim the same fear. Additionally, 47% of retirees don't think they've built a nest egg large enough to last through retirement.

Now is the time to face your fears. Take a look at a dozen ways you could go broke in retirement and learn how to avoid them. Some you can avert with careful planning; others you have little control over. But you can prepare your finances to make the best of whatever may come.

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