Steve Vernon

There is little evidence of a widespread retirement crisis among current retirees, according to EBRI's 2026 Retirement Confidence Survey . This

“Hope is not a strategy.” I'm reminded of this saying when reading the 2026 Retirement Confidence Survey , recently released by the Employee Benefit Research Institute (EBRI).

Are you a pre-retiree or retiree with a serious case of FORO (fear of running out)? If yes, you're not alone.

Social Security is in trouble, but it's not going bankrupt and it's not going away in the near future. That's an important conclusion from the 2026 OASDI Trustees Report that was released on June 9.

A recent Corebridge Financial survey reveals widespread anxiety among pre-retirees and retirees about outliving their savings, with 56% fearing running out of money. However, the Corebridge report offers strategies to enhance financial security. Developing a comprehensive "decumulation" spending plan significantly boosts confidence, covering investments, Social Security, and work options. Engaging a financial professional is also crucial, as those with advisors are far more confident in managing retirement income. Finally, considering an annuity can provide guaranteed lifetime retirement income, potentially enhancing spending happiness and overall retirement well-being.

A recent Corebridge Financial survey reveals nearly half of respondents desire to live to 100, driven by wishes for continued relationships, new experiences, and leisure. However, longevity goals often shift with age, as retirees express more concerns than Gen Z about physical and cognitive decline, loss of independence, and healthcare costs. Many fear running out of money more than dying. The article suggests a refined goal with more flexibility and room for interpretation: "To live well as long as I can." This goal focuses on quality of life over an arbitrary age. Regardless of the specific age goal, planning for financial security, health, and social connections is crucial for a fulfilling long life.

If you’re tempted to claim Social Security benefits early because you’re worried about future reductions to Social Security benefits, don’t make any hasty decisions until you analyze your situation further.

To combat the widespread fear of outliving retirement funds, financial experts advocate a strategic shift from accumulating savings for retirement to building a diversified retirement income portfolio for living in retirement. This involves applying "portfolio thinking" to income, establishing a "bond" component with guaranteed sources like Social Security, pensions, and income annuities to cover essential expenses. A "stock" component, using invested savings and systematic withdrawals, provides variable income for discretionary spending. Annuities are crucial for bridging income gaps and boosting financial security. They also act as longevity insurance, offering automatic, dependable payments that also safeguard against cognitive decline. Diligent planning is key to a secure retirement.

It could be a good time for you to adjust the amounts of protected and variable retirement income that you receive.

Medicare’s website makes it easy to compare plans and convenient to enroll in a new Medicare Part D Prescription Drug Plan.