Losing Money, Losing Choices

Lyn Dippel, a vice president and senior adviser at Financial Advantage Inc. in Columbia, Md., said a doctor client with more than $2 million who planned to retire this year has indefinitely postponed retirement.

Also, a retired engineer with close to $2 million decided to return to his former employer for a two-year contract to improve his cash flow so he doesn't need to take withdrawals during this time. Other clients, she said, are reducing monthly withdrawals and putting off car purchases and travel plans.

"Most of our clients don't consider themselves wealthy, although they have $1 to $2 million," Ms. Dippel said. "They really look at a worse case scenario, such as not making any return on their investments and health care costs skyrocketing."