Americans fear running out of money more than death, elder care expert says planning can help

A new Allianz retirement study finds financial anxiety has overtaken fear of death for many Americans, especially older adults. Complete Elder Solutions CEO Princella Lewis Seymour says the trend shows families need to plan for aging, care costs and decision-making before a crisis hits.

Why it matters: - Financial fear is now a bigger worry than death for many Americans, according to the Allianz Center for the Future of Retirement's 2026 Annual Retirement Study. - The shift underscores how quickly aging, care needs and rising costs can overwhelm families that wait too long to plan. - Princella Lewis Seymour, CEO of Florida-based Complete Elder Solutions, says families often face avoidable emotional and financial strain when decisions are delayed until a health crisis.

What happened: - The Allianz Center for the Future of Retirement reported that a majority of Americans are now more afraid of running out of money than of dying. - Seymour tied the finding to three decades of work with families navigating elder care, financial planning and crisis decision-making. - Seymour urged families to plan early rather than wait until an emergency forces the conversation.

The details: - Seymour advised families to organize financial, legal, medical and personal information before a crisis. - Seymour said families should talk with aging parents about finances, health, housing and care preferences while everyone can still participate directly. - Seymour said the cost of home care, assisted living and long-term care varies by region, and many families do not learn the real costs until they are already paying them. - Seymour's book, Everything You Need to Know About Me, is designed to help families record critical information before time runs short. - Seymour recommended building a support team that includes an attorney, financial planner, social worker and care manager. - Seymour also urged families to research funding options early, including savings strategies, long-term care insurance, Medicaid and Veterans benefits. - Seymour said financial planning for aging should be viewed as an act of love, not just a money exercise.

Between the lines: - The study and Seymour's advice point to the same problem: many families treat aging as an abstract future issue until a medical event makes the stakes immediate. - Early planning can widen the set of care and funding choices available before health declines reduce flexibility. - The message also reflects a broader shift from reactive caregiving to coordinated planning across finances, law and care management.

What's next: - Seymour is pushing families to start conversations earlier and assemble documents and advisors before a crisis arrives. - Complete Elder Solutions says it continues to provide elder care guidance and care management for families in Florida and across the United States. - The company says families can learn more at Complete Elder Solutions.

The bottom line: - The biggest risk in aging may not be death itself, but the cost of waiting too long to plan for care, money and decision-making.