My 95-year-old mother-in-law is one person I never suspected would run out of money, but that’s exactly what’s happening.

When her husband died, she received a life insurance settlement, and she's received a nice pension payout every year since, taking care to preserve that pension by living a frugal lifestyle. Still, the assisted-living facility where she lives raises the rent every year -- more than the increases in her pension and social security. And, something else: She's living longer than everyone expected.

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In fact, she’s still going strong and could easily live another five years or more -- that's wonderful news. And, thankfully, our family is prepared to help if, as appears likely, her living expenses exceed her income. But it's that very scenario of having your living expenses exceed your income, that needs people's attention, because it's happening more and more.