How to Avoid Outliving Your Money

Welcome back to our next installment of our Senior Series. This month, we talk about how to ensure your retirement funds last as long as you need. If you are like most American workers, you will likely be responsible for saving most of the money you will need for retirement. That's because many companies have replaced defined-benefit (or pension) plans with defined-contribution (or 401k) plans. Furthermore, Social Security will only cover a fraction of the income you will likely need after retirement. Here are our favorite tips on how to avoid outliving your money during retirement.