Many investors have at least one major concern about retirement: running out of money. And rightly so, according to a recent study by the Employee Benefit Research Institute that found that nearly half of early baby boomers are at risk of running short of money in retirement.

Talking about retirement income with clients can help them focus on their goals — or set new ones — and underscore the importance of rollovers and account consolidation.

Putnam’s chart on sustainable withdrawals in retirement helps demonstrate the relationship between withdrawals and the sustainability of one’s portfolio. The chart visually illustrates that if investors withdraw 6% or more from their portfolio in retirement that their savings will not likely be sustainable over the long term. In addition, if investors become too conservative with investing in retirement, they risk outliving their assets. Review this chart with your pre-retiree clients to establish reasonable expectations on sustainable withdrawals and asset allocation strategies to position their retirement income plan for long-term success.

With the expectation that 4% or 5% is a reasonable withdrawal rate in retirement, clients may realize that they need to save more and take this action sooner rather than later. To jumpstart their savings, they may benefit from consolidating their retirement accounts and rolling over assets from other retirement plans.