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.

By Ruth Mahoney

For most of the American population, retirement is a paradox. We look forward to it, because we want to stop working. We fear it, because we cannot afford to.

People struggle to retire for several reasons. For starters, many of us aren’t saving enough. Even if we are, unexpected expenses such as a child’s college education, divorce, or care for an aging parent can delete resources from the retirement nest egg. However, according to a survey from Bankrate, the number one worry baby boomers have about living a secure retirement is the cost of healthcare.

By David L. Cumming

Preparing for an annual financial review may be easier than you think. With a checklist in hand and your financial advisor by your side, review key considerations and together discuss any potential corrective actions to ensure you are on track to meeting your goals.

Do I need to rebalance my asset allocation? Depending on the performance of your investments, you may want to examine whether your mix of stocks, bonds, cash, and other assets is close to your target.

If you have not reviewed your portfolio lately, you may be surprised at what you find. It’s possible that your current asset allocation has changed quite a bit since the last time you checked, due to the different performance of the various investments in your portfolio.