BAKERSFIELD, Calif. (KBAK/KBFX) — A new Prudential survey finds that 86 percent of Americans nearing or already in retirement don’t feel comfortable spending their savings on things they enjoy.
From fears of running out of money to uncertainty surrounding Social Security, retirement can bring financial stress even after decades of saving.
Financial advisor Jordan Mangaliman of Goldline Wealth Management joins ARC Bakersfield to discuss why so many Americans are hesitant to spend their retirement savings and how they can better prepare for their financial future.
Mangaliman also discusses common retirement planning mistakes, the importance of having a withdrawal strategy, and how to prepare for potential long-term care expenses.
He also shares advice on finding a balance between saving money and enjoying retirement, along with steps people can take if they feel behind on their retirement savings.