Nearly half of investors (46 percent) are afraid they’ll run outof money once they’ve stopped working.

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So say the results of a new Wells Fargo/Gallup survey ofinvestors with $10,000 or more in savings.

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Worse, 36 percent of respondents who have already retired and 50percent who have not said they were afraid they’d eventually haveto rely on Social Security as their sole source of income to getby.

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Some of their worries are likely due to the pummeling many tookin the Great Recession, with the massive losses racked up in themarket making people very hesitant to dip their toes back into thewater.

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“There are tangible reasons for a lot of people to worry,” saidKaren Wimbish, director of retail retirement for Wells Fargo. Manydon’t save enough as it is, and Wimbish said that some who lost alot of money during the downturn “haven’t healed” from those lossesand aren’t ready to trust the market.

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Those who haven’t retired yet say that only 38 percent of theirretirement savings is in the stock market. Among retirees, thefigure is lower; only 33 percent of their savings is in stocks.“Some are investing in the market, but they are doing itreluctantly,” Wimbish said.

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And they are really reluctant. Among those who are staying awayfrom stocks, 56 percent say they aren’t confident they can reachtheir financial goals without them, but they’d rather not risklosing what they have. And 60 percent of respondents said cautionwhen investing in the market is a good thing because it protectspeople from possible losses.

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A Bankrate.com survey also found that while 55 percent ofAmericans who have significant savings are afraid of runningthrough those savings during retirement, they can’t bringthemselves to economize more now to have more later.

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