For many retirees spending their nest egg after years of focus on accumulation is a major transition. Artemis client Ameriprise released the results of their Making Money Last study, which details how retirees are handling their finances, earlier this week.
Major findings include the following:
- Nearly seven in 10 respondents have not begun to withdraw their money, aside from taking required minimum distributions.
- A quarter of respondents are not sure whether their money will last throughout their lifetime.
- Not outliving their money is a top priority for retirees, and 59% found this topic complex.
Ameriprise has also developed a related infographic for their Ages, Stages & Money study. This study asked 3,000 investors across five decades about their financial journey and future.
