By R.J. DeLuke
A survey conducted by the American Institute of Certified Public Accountants says running out of money is a top concern among their clients when they are look ahead to retirement.
The elderly are living longer, said AICPA, and Baby Boomers, who hold the largest amount of retirement assets, are supporting both their parents and their children. This has amplified the fear.
Neil Edmonds of the Ascent Wealth Partners office in Saratoga Springs, who handles retirement matters for the company, agreed it is a big concern for people.
“There are not as many defined plans for retirement, like pensions,” he said, and in some cases people have nothing more than Social Security to fall back on.