Many of our grandparents or parents may have a plethora of goals they wish to accomplish with their retirement accounts. They may want to move to Florida to play golf, they may wish to travel the world, or they wish to do anything they please with the money. Ultimately, the commonality among all the individuals with retirement savings is to make it last.

For many of the younger baby boomers and members of the following generation could, unfortunately, outlive their 401(k) funds, according to a study conducted by the Center for Retirement Research at Boston College.

Economists working on the study compared the overall drawdown of speeds between those with traditional pensions and those with only 401(k) savings accounts. However, most of the research is based on the pension category and it seems that the majority of people now fall into the 401(k) bracket.

“What most of the people have had the chance to observe were people with traditional pensions.

This sanguine idea from the past might give a false sense of security though.”

Gal Wettstein, a senior research economist at the Center for Retirement Research at Boston College, said.

The studies surrounding retirees with pensions found that they often don’t spend their savings at all and many seem to leave the eggs in the nest to continue growth after they stop working.

Read more of the study HERE