What’s Scarier Than Death?

Today, I’d like to talk about the one thing that is scarier than death. For Most Americans, It’s Going Broke First.

It’s not disease, not war, and not even death that’s haunting the minds of many Americans. According to a recent study by Allianz Life[1], the thing people fear most is running out of money before they die. Yes—financial ruin is officially scarier than death.

Think about that for a second.

With inflation still high, taxes eating away at earnings, and real questions about whether Social Security will be enough to live on, it’s no wonder so many people lie awake at night doing retirement math in their heads. In fact, nearly two-thirds of Americans say they fear outliving their money more than they fear death itself.

It’s especially true for Gen Xers—those in their 40s and 50s—who are staring down retirement with a growing sense of anxiety. A whopping 70% of them fear their money won’t last. Even boomers, many of whom are already retired, aren't immune from this fear, with 61% sharing the same concern.

So what’s causing this dread? The usual suspects: inflation, taxes, and insufficient Social Security top the list. But what’s even more troubling is how many people say they’re saving less than they’d like. The number one reason? Day-to-day expenses. Groceries, rent, credit card payments—it all adds up, leaving little margin to plan for the future.

If you're already retired, the strategy becomes simpler in theory: don't spend more than you have coming in. But when markets dip and portfolios shrink, it takes discipline not to dig deeper to fund a vacation or a new kitchen. The 4% rule—that idea that you can safely withdraw 4% of your nest egg each year—works best if you adjust for market performance. When your investments are down, it's not the year to splurge on a river cruise through Europe.

Delaying Social Security until age 67 instead of taking the reduced payout at 62 is one of the best moves many retirees can make. Working part-time early in retirement can also help—both for your wallet and your sense of purpose. The less you draw down your portfolio in those early years, the better chance you have of it lasting well into your 80s and 90s.

We’ve been helping retirees navigate these decisions since 1987. "One thing that stands out to us—many of our clients reach 85 with even more in their portfolios than when they first retired. It's something we take pride in, knowing their plans are working."

The secret isn’t magic—it’s discipline, wisdom, and the willingness to spend differently in lean years versus strong ones.

The truth is, you don’t need millions to retire well. You need a plan. You need to know when it’s okay to say yes—and when you might need to hold back a little. And you need someone in your corner who won’t sugarcoat the reality but will walk alongside you to help protect what you’ve worked so hard for.

If you’re nervous about your future—or if someone you love is—let’s talk. We’re happy to offer a free consultation to help you feel more confident and secure about your next steps.

Because when it comes to your money, fear doesn’t have to have the final word.

[1] Source:  April 22, 2025 https://www.allianzlife.com/about/newsroom/2025-Press-Releases/Americans-Are-More-Worried-About-Running-Out-of-Money-Than-Death