Skip to Main Content

How to make your retirement money last a lifetime

Older couple seated at restaurant by the pier © iStock
Bankrate Logo

Why you can trust Bankrate

While we adhere to strict , this post may contain references to products from our partners. Here's an explanation for .

Nearly half of all Americans say they’re worried that they’ll run out of money in retirement, according to a recent survey by TIAA-CREF.

That’s largely because many people don’t really have a plan to help them determine how long their savings will last and how much they can withdraw each year to support their lifestyle.

In all fairness, this part of retirement planning is extremely difficult because many of the critical factors involved in the calculation are largely unpredictable. For instance, you really have no control over the returns of your investments, the rate of inflation or just how long you need to plan for.

Yet, each of these variables has a significant impact on how much you can safely withdraw from your nest egg to live comfortably for the rest of your life.

Are you anxious about running out of money down the road? Here’s what academics and financial industry experts say you need to do when it comes to planning for retirement.