People are scared of running out of money in retirement. But if you identify the obstacles that keep you from boosting your retirement savings, it can be the key step in improving your confidence.

In the following video, Dan Caplinger, The Motley Fool's director of investment planning, looks at a survey from Merrill Lynch that found that more than half of participants are scared of running out of money in retirement. He notes three things that people should do:

  1. Make future saving a priority. The survey found that among those who fear running out of money in retirement, most say that having money to live right now is a major priority. There's a disconnect there, and investors have to be willing to delay gratification to save.
  2. Target unexpected income for retirement savings. The survey revealed that most people use unexpected windfalls to pay down debt, but earmarking that money for long-term investing for retirement is a great way to put time on your side.
  3. Use your budget effectively. Almost 90% of people have a budget, according to the survey, but more than two-thirds of those say they can't live on that budget. That means the budget isn't working and needs revisions to make it more realistic.

Have general questions about Social Security? Email them to, and they might be the subject of a future video!