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The Role of Life Expectancy in Retirement Planning - MarketWatch
“How can you plan for your retirement if you don’t know how long it will last?” A profound question, indeed, if you consider that your goal should be to have a large enough nest egg so that you don’t run out of money in retirement, thus falling into poverty at advanced age. Of course, average life expectancy is a fairly common statistic, well defined in this MarketWatch article by Mark Hulbert. But the key is to determine where you, as an individual, will fare compared to that average. Statistically, someone age 65 can, on average, expect to live an additional 20 years - but will you be average? If not, and you live well beyond and haven’t planned for that eventuality, you could be facing some pretty lean years in old age. As this MarketWatch article suggests, planning for your retirement should look carefully at your personal life expectancy forecast, and result in a retirement plan which will sustain you at lest until that time, not just to average longevity. Click here to read more.
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