According to a new Bankrate.com survey, “People who earn more than $75,000 have a greater fear that they’ll run out of money in retirement. Overall, 23% of survey respondents say their top worry is that their savings will run out, but 29% of those in the $75,000-and-up income bracket say the same.”

According to an article at Time.com, “These fears persist despite the fact that about half of high-income Americans say they’re happy with the amount they’re socking away for retirement, compared to the 29% overall who say they’re happy with their current retirement savings. And even among those earning more than $75,000 a year, more than a quarter say just keeping up with basic living expenses is hampering their retirement savings”.

A few ways to avoid outliving your savings is to get out of debt, learn to live on a budget, and reduce your cost of living as much as possible. This will enable you to increase your savings and add to your cushion now as opposed to worrying about the future. In addition, adjusting your lifestyle downward now will likely add more margin to your life and reduce stress.

A 91-year old recently widowed friend of mine has followed these steps and is doing very well on his fixed social security income. His children are ready to welcome him into their homes anytime he needs their help. So far, he says no help is needed. He still works part-time, uses a chainsaw, and takes no medications. He says God is taking very good care of him and he has more energy than most 60-year olds that I know.