Core Insights - Saving for retirement requires sacrifices, but a substantial IRA or 401(k) balance can lead to a more comfortable lifestyle [1] - Concerns about depleting retirement savings are common, with longevity, market declines, and healthcare costs being significant factors [2][7] Group 1: Longevity - Americans are living longer, which poses challenges for preserving retirement savings; a strategic withdrawal rate is essential [4] - A smaller withdrawal rate, such as 3%, may be more suitable depending on portfolio composition [4] - Delaying Social Security claims can increase monthly benefits by 8% for each year waited, reducing the need to withdraw from savings [5] Group 2: Market Declines - Early market declines in retirement can jeopardize savings, especially if investments are sold at a loss [6] - Maintaining a cash reserve equivalent to two years' living expenses can help weather market downturns [6] - Diversifying the portfolio with stable dividend stocks can mitigate risks associated with market declines [7][8]