What Happens If You Run Out Of Money In Retirement?

In this video, I dive into the subject of what happens when you run out of money in retirement. Are you worried about running out of money in retirement? Most folks get one shot to retire the right way -- and there are plenty of ways to mess it up. Be sure to watch this video to understand what running out of money in retirement looks like and how to avoid it.

Transformative Financial is now Prana Wealth!

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--- About Patrick King CFP® ---
Patrick King is a fee-only financial advisor in Atlanta and the Founder of Prana Wealth. Over his career, Patrick has helped CEOs, all-star athletes, Grammy-winning artists, and many others build their wealth, retire sooner, and create a legacy. Patrick enjoys yoga, mountain biking, golf, travel photography, and Clemson football.

Let’s connect:
LinkedIn – PatrickBKing
Facebook – @pranawealth
Instagram – @pranawealth
Twitter – @PranaWealth
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[MyLifeThai]

My neighbor lady had to file bankrupcy and she already owned her own house. In bankrupcy they have to leave you with a place to live and a vehicle. She got to keep her house and her car, but she said when she dies the bank could come after the house. She worked until age 70, so she could get the highest social security check. She now lives on $12, 000 a year social security and has no other investment accounts. She freezes her own milk in tupperware containers and says it will last forever until she needs it. It's a frugal life, but that is how it goes.

[slydogger]

My In-laws retired with -$30, 000 credit card debt and $150000.00 of home equity when they sold the house.
Moved in with me (sad face) in 2010 and now I have to pay into a family fund to help offset their expenses (another sad face).
I tell my wife she is lucky, she doesn't have to live with her In-laws; and why is that? Because her In-laws took care of business during their adult life.
SMH! or is it FML?

[Nicoled]

Well it’s too late for my Dad. He’s out of money and is looking for a job. He will most likely come to live with me. I’m not sure how to help him get his life back together

[TVHouseHistorian]

Our dad began preparing for retirement in his 20’s, and after 40 years of working, he retired with both a military pension as well as an IRA he rolled his work pension into. Even though he and mom were somewhat low income, they retired with their home completely paid for, absolutely no debt, and money coming out of their *ears.* Because they saved, they were both taken care of all the way into death, and were able to leave a nice financial legacy behind for us boys. Thanks, mom and dad ❤️.