This October, we requested Boldin customers a easy query: What’s scarier — your retirement fears or strolling alone within the woods on a darkish Halloween evening?
Seems, two-thirds (66%) stated their worst retirement fears had been scarier than a creepy midnight stroll (earlier than that they had a plan). Just one-third would have rathered face the unknowns lurking within the shadows of rustling bushes. And, it’s retirement unknowns that trigger essentially the most worry.
However after we dug deeper, we discovered {that a} written retirement plan can act as a robust flashlight that illuminates these fears and makes them far much less ominous.
Uncertainty Can Be Terrifying
Earlier than having a written retirement plan, the most important worry by far was operating out of cash or outliving financial savings (39%). Shut behind had been not with the ability to afford the life you need (19%) and not realizing how you can plan for future unknowns (17%), occasions like market crashes, inflation, or pure disasters.
A smaller share apprehensive about shedding management and safety (7%) or healthcare prices (6%), however taken collectively, these responses paint a transparent image:
For most individuals, uncertainty is the scariest factor of all.
Retirement Fears Are Deeply Felt
And, earlier than making a plan, these retirement fears had been deeply felt. Over 67% stated their worries surfaced commonly. Greater than 1 / 4 26.7% stated they “weighed on them fairly a bit,” 40.4% stated that they had been considerably apprehensive and 25.5% had been a little bit involved. Solely 3% stated they weren’t apprehensive in any respect.
Funds Are the Greatest Monsters, However Non-Monetary Fears Weigh Closely Too
We requested survey respondents about whether or not their best retirement fears had been associated to cash or common life fears like well being and objective. And, cash weighs extra closely. Fifty-seven p.c stated that lack of monetary management and safety, outliving financial savings, healthcare prices, and different monetary issues had been extra vital than issues like lack of objective and declining well being, which solely 42% stated had been scarier.
Of the non-financial fears, emotional and health-related issues dominated:
- Declining well being (29%)
- Cognitive decline (22%)
- Lack of objective (14%)
- Loneliness or lack of social connection (7%)
- Loss of life of a partner or liked one (11%)
What Helps Tame Monetary Fears?
Past constructing a holistic retirement plan, Boldin customers stated these methods assist them really feel safer:
- Working “what-if” situations and contingency planning (66%)
- Assured earnings streams like pensions, Social Safety, or annuities (43%)
- Constant saving and investing (34%)
- Changing into debt-free (36%)
- Skilled monetary steerage (26%)
In different phrases, readability and preparation beat anxiousness and avoidance each time.
The Magic of a Written Plan: Exchange Concern with Preparation
The one strongest discovering: 96% of individuals with a written plan say it makes them extra assured concerning the future.
- 68% really feel way more assured
- 28% really feel considerably extra assured
- Simply 3% stated it didn’t change their outlook
And when requested how they really feel about retirement at the moment:
- 46% really feel assured — they’ve deliberate fastidiously
- 49% are considerably assured — they’ve accomplished some planning, however worries stay
- Solely 4% nonetheless really feel anxious
- 0% stated they had been fearful
That’s proper: amongst Boldin customers, nobody stated they had been outright fearful about their monetary future. Planning doesn’t erase uncertainty — however it replaces worry with the boldness that comes from realizing you may deal with no matter comes your approach.
From Concern to Freedom
A written retirement plan doesn’t simply crunch numbers. It offers you management, confidence, and the flexibility to adapt — it doesn’t matter what the world (or the market) throws at you.
So this Halloween, whereas others are terrified of ghosts and shadows, you may relaxation simple realizing your monetary monsters are tamed — one plan, one “what-if,” one assured step at a time. Able to face your fears? Construct your plan, run your “what-ifs,” and see what’s potential with Boldin Planner.