Why High-Net-Worth Individuals May Outlive Their Savings

7 Reasons the Wealthy May Outlive Their Savings

High-net-worth individuals, those with $1 million or more in liquid assets, may
face unique challenges when it comes to preserving their wealth through retirement.

Consulting a fiduciary financial advisor can be a great first step to getting the
specialized guidance that could be necessary to help ensure you're on track
to meeting your financial goals, and helping secure your legacy for the next generation.

Research suggests people who work with a financial advisor could end up
with about 15% more money to spend in retirement.1

Seeking guidance in these 7 areas could potentially help reduce stress and help ensure you're not at risk of outliving your savings and may be more likely to enjoy the retirement lifestyle you've been planning. See the list.

SmartAsset's no-cost tool simplifies the time-consuming process of finding an advisor. Take the free quiz to get matched with up to three vetted fiduciary
advisors serving your area, each legally bound to work in your best interest.
It's never too late to plan to work toward a comfortable retirement.

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The information contained in this article is general and not specific to any individual's situation. The SmartAsset quiz matches you with up to 3 financial advisors to which you can compare and decide which to work with.

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SmartAsset.com is not intended to provide legal advice, tax advice, accounting advice or financial advice (Other than referring users to third party advisers registered or chartered as fiduciaries ("Adviser(s)") with a regulatory body in the United States). SmartAsset is not a financial planner, broker or tax adviser. The Service is intended only to assist you in your understanding of financial organization and decision-making and is broad in scope. Your personal financial situation is unique, and any information and investing strategies obtained through SmartAsset.com may not be appropriate for your situation. Accordingly, before making any final decisions or implementing any financial strategy, you should consider obtaining additional information and advice.

Sources:
1."Journal of Retirement Study Winter" (2020). The projections or other information regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of your future results. Please follow the link to see the methodologies employed in the Journal of Retirement study.

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