Retirement Worries: Americans and Canadians Falling Behind on Savings

A new report by Cerulli Associates finds that 58% of respondents across generations reported their greatest retirement fear is outliving their assets due to poor planning or investment performance. This concern topped worries about trusting the wrong financial professional, losing control of assets in case of incapacity, falling victim to scams, inflation, and other issues polled in the report. Social Security is the primary source of income for 54% of U.S. retirees, and even retirees with sizable nest eggs reported relying on Social Security as their chief income source.