Retirement Planning: If We’re Living Longer, Do We Need More Money?
Back in 1960, the average American’s process for retirement planning was a bit different than it is today. Most weren’t expected to live more than 70 years. If you reached the age of 65, the picture was a little rosier: The average male could expect to live to age 77. Given all the variables, your nest egg needed to last for an average of 10 years. Fast-forward to today, and the picture is quite different. Life expectancy is up to almost 80 years, and if you reach the age of 65 in America, you can expect — on average — to see your 86th birthday. ….Read More