Calming the Biggest Financial Fear
In 1973, a research firm called R. H. Bruskin Associates published a well‑known study titled American Fears. The report examined a wide range of anxieties, but one finding captured the public’s imagination more than any other: people reported fearing public speaking more than death.¹
Subsequent studies have added useful nuance. When asked to list their most common fears, people often name public speaking. But when asked to rank their fears in order of severity, death typically rises to the top. In other words, it’s not necessarily that people believe public speaking is worse than death—they simply worry about it more often.
What makes public speaking so intimidating is the risk of humiliation. There’s a sense that nerves might take over and lead to embarrassment in front of others. That fear of public failure may explain why financial failure also ranks so high on the list of common anxieties.
According to a recent study by the Allianz Center for the Future of Retirement, nearly two‑thirds of Americans worry more about running out of money than about dying.² Again, this doesn’t mean people view financial insolvency as worse than death—it means the concern occupies their thoughts more frequently.
The group most worried about running out of money is pre‑retirees, largely Generation X, with 70% reporting this fear. Millennials follow closely at 66%, while Baby Boomers rank third, with 61% naming it as their top concern.
When asked what drives this anxiety, respondents most often cited inflation (54%), concern about the adequacy of Social Security benefits (43%), and high taxes (also 43%). These pressures make the future feel uncertain, especially for those nearing retirement. People also identified practical ways to address the problem—saving more for retirement, reducing current spending, or working longer before retiring. Yet despite these intentions, only 23% reported doing the single action most likely to reduce their fear: talking with a financial professional.
Psychologists have long found that one of the most effective ways to overcome a persistent fear is to first understand it accurately and then develop a concrete plan of action.³ Fear thrives in uncertainty; clarity and preparation weaken its grip.
Our role is to help you do exactly that. We collaborate with you to thoroughly assess your unique financial situation—not just once, but on an ongoing basis as your income, goals, and needs evolve. As fiduciaries, we hold everything you share with us in strict confidence and always act with your best interests as our top priority.
By helping us build an accurate picture of your obligations, income, and life circumstances, you enable us to create an individualized plan designed to address your concerns head‑on. That plan isn’t just about easing the fear of running out of money, it’s about giving you the confidence and clarity to pursue the future you envision with greater peace of mind.
http://go.pardot.com/e/91522/s-10-1080-08824096-2012-667772/974nv5/3017139760/h/wlri2K_6yrzPz1uod6p17eUguhHI6nNvSch7dtGTsNo
http://go.pardot.com/e/91522/unning-Out-of-Money-Than-Death/974nv8/3017139760/h/wlri2K_6yrzPz1uod6p17eUguhHI6nNvSch7dtGTsNo
http://go.pardot.com/e/91522/ps-for-making-a-plan-of-action/974nvc/3017139760/h/wlri2K_6yrzPz1uod6p17eUguhHI6nNvSch7dtGTsNo
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