A new study should provide a big wake up call about your retirement plan.

 47% of all boomers between the ages 56 through 62 are likely to run out of retirement funds they will need for basic expenses.   

We’re not talking about scaling back on travel or new cars.  We’re talking about basic expenses—food, shelter, medicine!

The main culprit is NOT the usual suspect.  You can blame a lot of trouble these days on the terrible economy and stock market, but this isn’t one of them.  While the economy is not helping our retirement funds, the main reason for the short fall is uninsured health costs.

Nursing homes and other expenses not covered by insurance are wiping out people’s savings.

Did you know that there’s a 70% chance that you will need long-term care at some point in your life?  And that the average long-term care facility costs about $90,000 a year.  And that most healthcare insurance does NOT cover long term care expenses.

What can you do to make sure you don’t run out of money in retirement? 

1.  Figure out how much money you really need for retirement.  How on earth can you have enough if you don’t know what “enough” is??
2. Avoid these common retirement pitfalls that so many people make.
3. Consider whether long term care insurance is right for you. 

Read More In: Insurance Retirement Center