Feeling guilty about spending savings in retirement
Spending retirement funds after decades of saving could make new retirees feel guilty. But they need to recognize the major shift they're embarking on, and that they're in a new phase of life, according to this article on CNNMoney. The money they have saved is meant for their needs through their golden years. To avoid this feeling of guilt, retirees are advised to compute how long their nest egg might last at specific spending rates to know how much wiggle room their savings could afford them. They may also want to have a bucket list of the things they want to do in retirement, and devise a strategy to make themselves commit to pursue these plans. --CNNMoney

5 ways to avoid outliving your retirement savings
Clients are advised to build a bigger nest egg while they're still working to ensure that retirement savings will last as planned, according to Money. Also, they need to come up with a realistic retirement budget and get a good estimate of how long they will live and depend on their savings for their needs. They may even consider estimating their expenses at different ages because of the possibility that they could live to reach these ages. They need to make sure the withdrawal rate they choose is sustainable and to check if getting a guaranteed income source is a viable option. --Money

Could the tide be turning on reverse mortgages?
Reverse mortgages --or loans with home as collateral-- are gaining popularity these days after years of getting bad press, writes an expert. In fact, home equity has been identified as a valuable asset and reverse mortgage as an excellent way to tap such asset in retirement, the expert adds. The rising popularity of reverse mortgages "may be happening just in time to help millions of Americans who will retire with grossly inadequate 401(k) balances to have a decent standard of living when they stop working." --MarketWatch

Five common errors that are hurting your retirement savings
Many Americans fail to start saving for their golden years early on in their career, a mistake that hurts their retirement prospects, says an expert. Many others also make the mistake of not saving enough and missing out on the opportunities offered by their employer's retirement plans, he notes. Investors also make the wrong investment choices during the accumulation and elderhood phases of retirement. --TheStreet

Ignore risk questionnaires and have a better retirement
Investors may disregard the risk questionnaires provided by their 401(k) plans, mutual fund companies and financial planners when making portfolio decisions, according to this article on Yahoo Finance. This is because these questionnaires gauge certain variables that may have little to do with an investor's own goals. Also, investors will adopt moderate allocations instead of more aggressive, better-performing allocations because these questionnaires prefer short-term risk and return. -- Yahoo Finance

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