Feeling guilty about spending savings in retirement Spending retirement funds after decades of saving could make new retirees feel guilty. But they need to recognize the major shift they're embarking on, and that they're in a new phase of life, according to this article on CNNMoney. The money they have saved is meant for their needs through their golden years. To avoid this feeling of guilt, retirees are advised to compute how long their nest egg might last at specific spending rates to know how much wiggle room their savings could afford them. They may also want to have a bucket list of the things they want to do in retirement, and devise a strategy to make themselves commit to pursue these plans. --CNNMoney

5 ways to avoid outliving your retirement savings Clients are advised to build a bigger nest egg while they're still working to ensure that retirement savings will last as planned, according to Money. Also, they need to come up with a realistic retirement budget and get a good estimate of how long they will live and depend on their savings for their needs. They may even consider estimating their expenses at different ages because of the possibility that they could live to reach these ages. They need to make sure the withdrawal rate they choose is sustainable and to check if getting a guaranteed income source is a viable option. --Money

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