New research from financial advisors has said that nearly every pre-retiree is concerned about whether or not they’ll have enough saved to fund the lifestyle they want.

Concerns were also broached to financial advisors about whether the money saved will run out, despite the amount of wealth held by the retiree.

Goldsborough Financial Services director Brenton Miegel said that pre-retirees are worried about money “almost without exception”.

Having a “really good budget in place” can help ease your mind.

“Know what you are going to spend and how you are going to spend it, and allow for unexpected expenses,” he said to

“Get good advice. Speak with a professional financial planner who will look at your situation and offer insight and suggestions without necessarily reinventing the wheel.”

Miegel also reaffirms that you don’t need a lot of money to have a comfortable lifestyle.

“You don’t have to have great wealth in order to have a comfortable lifestyle,” Mr Miegel said.

“Don’t be afraid to use some of your capital to do those extra things like an overseas trip or upgrading the kitchen, without getting silly about it, because you can’t take it with you.”

MidSec managing partner Nick Loxton said that most retirees were concerned about maintaining their lifestyle.

“You don’t get a lot of chances at retirement and if you get it wrong the consequences are high,” he said.

“There is so much information on strategies, investments and tax. Everyone’s different so they often wonder which bits apply to them.”

Here are three tips that you can follow to ensure that there’s enough saved in your retirement fund.

  • Have an emergency cash back-up
  • Know where your income will come from for the next five years at all times
  • Budget to have 10 per cent more cash flow than you expect to spend

This article originally appeared on Over60.