They say 60 is the new 40 — and looking around Utah these days, it sure seems like it. Folks are hiking, biking, traveling and living well into their 80s and 90s. It’s a beautiful thing. But with longer life spans comes a new challenge: outliving your money.

And let me tell you, that’s one fear I hear again and again.

It’s not the market swings or tax law changes that keep most retirees up at night. It’s this: “What if I live too long?”

Let’s talk about how to beat the longevity challenge with smart, safe strategies that keep your money working for you — no matter how long you live.

You could live longer than you think

Here’s a reality check. If you’re 65 today, odds are you could live into your late 80s or even early 90s — and that’s just the average. Many retirees will go well beyond that. If you’re a healthy 65-year-old couple, there’s a 50% chance one of you will live past age 90.

That means your retirement could easily last 25 to 30 years — as long as your working career did.

Now ask yourself: Have you planned for that?

Why longevity is a risk multiplier

Longevity is what we call a risk multiplier. The longer you live, the more you’re exposed to:

• Market downturns
• Inflation eating into your buying power
• Rising health care costs
• Tax law changes
• Unexpected expenses
• And plain ol’ bad luck

If your plan only works for a 15-year retirement, but you end up needing 30 years of income, that’s not a plan — that’s a problem.

Step 1: Secure the base layer – guaranteed income

The first step to solving the longevity puzzle is making sure you don’t outlive your basic income needs. In other words, how do you cover housing, food, medical and lifestyle expenses month after month, year after year — without relying solely on the stock market or dipping into your nest egg?

Enter guaranteed income.

Social Security is a great start — but for most people, it only covers a portion of what they need. That’s where fixed index annuities with lifetime income riders can make a huge difference.

These tools offer:

• Protection from market loss
• Growth potential linked to an index
• Lifetime income you can’t outlive

Think of it as building your own personal pension.

Step 2: Rethink the 4% rule

You’ve probably heard of the old “4% rule” — the idea that you can safely withdraw 4% of your retirement savings each year without running out of money.

Here’s the truth: That rule is outdated.

It was based on market conditions and bond yields from decades ago — and today’s environment is very different. Interest rates are higher, markets are more volatile and people are living longer.

Some experts now say 3% is safer. Others suggest using a more dynamic withdrawal approach — adjusting based on market performance and income needs. But either way, relying on old rules can put you at risk.

That’s why building protected income into your plan matters so much. It takes the pressure off your portfolio.

Step 3: Account for inflation — it’s not optional

A dollar today won’t go nearly as far in 20 years.

Even at just 3% annual inflation, your purchasing power is cut in half over 24 years. And with inflation hitting record highs in recent years, retirees are feeling the pinch — especially at the grocery store, gas pump and pharmacy.

That means your retirement income has to grow, not just sit still.

How?

• Use annuities with increasing income features.
• Consider investments that offer inflation hedges.
• Don’t park everything in low-interest accounts “just to be safe.”

Being too conservative can be just as dangerous as being too risky.

Step 4: Plan for the ‘go-go, slow-go, and no-go’ years

Here’s something we always talk about with clients: Retirement isn’t one big phase. It has three parts:

1. Go-go years (65-75): Travel, hobbies, grandkids, fun — spending is high
2. Slow-go years (75-85): Still active but slowing down
3. No-go years (85-plus): Health care becomes a bigger focus, spending shifts

Planning your income around these phases helps ensure you don’t overestimate what you’ll need later — or underestimate what you’ll want early on.

It’s not about cutting corners. It’s about being intentional.

Step 5: Update the plan as you go

Here’s something a lot of folks miss — retirement isn’t “set it and forget it.” Your needs change. The markets change. Life throws surprises your way.

So your plan needs to be flexible.

Meet with your advisor at least once a year. Reevaluate your income sources. Adjust for inflation, expenses, health care, taxes and more.

Think of your retirement plan like a GPS — if there’s traffic or a detour, it should reroute you automatically. But that only works if you check in.

Final thought: Don’t just hope your money lasts. Make it last

Hope is not a strategy.

Yes, living a long life is a blessing. But without the right plan in place, it can feel like a burden — full of anxiety, worry and unnecessary risk.

Let’s flip the script.

With the right tools — guaranteed income, inflation protection, long-term care planning and flexible strategies — you can enjoy those extra years instead of fearing them.

After all, you didn’t spend 40 years working hard just to wonder if you’ll run out of money at 83.

You deserve peace of mind — and a plan that lasts as long as you do.

Lyle Boss, The REAL BOSS Financial, endorsed by Glenn Beck as the premier retirement advisor for Utah and the Mountain West states. Boss Financial, 955 Chambers St., Suite 250, Ogden, UT 84403. Telephone: 801-475-9400.