It’s said that everyone has a double somewhere in the world. That seems unlikely, in the physical sense, but I bet most of us can imagine a professional doppelganger. A retired Italian physician. A French chemistry professor. An Irish engineer. Someone with a similar amount of money, living a similar lifestyle. Someone just like us in all respects except where they live. A real person that shares our same aspirations and fears.
One of the most common fears shared by people in or near retirement is the risk of outliving their money. This is the basic reason behind most saving and investing in the first place. People want to be protected from the vulnerability that comes along with being financially dependent on someone else. Unfortunately, the investment approach many people choose for their savings sometimes ends up creating the problem they were trying to avoid. Continue reading