It doesn't matter whether you have $50,000 to your name or $50 million.

Everyone has fears when it comes to retirement.

And although there are countless different fears,

generally speaking, they build down into one of five different categories.

So in today's episode, we're going to talk about what those fears are

as well as what you can do to overcome them as you plan for your own retirement.

This is another episode of Ready for Retirement.

I'm your host, James Cannell, and I'm here to teach you how to get the most of the

life with your money.

And now, on to the episode.

The first fear that people have is that they're going to outlive their savings.

And again, whether you have $10 or $10 million, this fear is going to be present.

It is ingrained in us to not want to lose what we have, and the worst form of losing

what we have is losing it when we have no means of recovering it by continuing to work.

Now, you take that and you add on the fact that you can't control what the markets can do,

what inflation is going to do, what different tax legislation is going to do, and all of a sudden it seems incredibly scary, thinking about all these things maybe being able to impact your ability to retire

and not outlive your money. So what can we do to overcome that fear? Well, there's several things.

The first thing is as simple as dialing in the right social security strategy. Now, for some people,

this means delaying until age 70. Delane until age 70 locks in the highest benefit and it gives you an income floor that even

if their market doesn't do as well as you want it to do, or even if your portfolio doesn't

last as long as you want it to, at least you have that Social Security income floor.

For other people, it actually means collecting Social Security earlier, either for the current

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