Sorry, retirees: You have a 30%-50% chance of running out of money before you die.

A recent study quantifies the risk of running out of money in retirement:

"What Causes EBRI Retirement Readiness Ratings to Vary: Results from the 2014 Retirement Security Projection Model®" By Jack VanDerhei, Ph.D., Employee Benefit Research Institute

The Employee Benefit Research Institute is a serious think tank in this fields and we usually do well to pay attention to its findings.  The report is fairly long, but one chart got my attention.  It is the following:

Even 15% of the top quartile people will run out of money.  Let's hope our kids will take care of us.

(You can see the full report by clicking on the graph above.)