Thanks to modern medicine, and an overall increased quality of life, people are living longer and longer. Indeed, the current life expectancy for someone in the United States is 81 years for women and 76 years for men (that’s from birth).
That’s quite an increase from 1950, when the average life expectancy at birth was 68.2. We’ve even seen increases since 1980, when average life expectance was 73.7. And, of course, if you live to 65 or 75, the chances that you will live to reach 80 years old — and beyond — goes up.
While it’s nice to think that you could live into your 90s fairly easily, the reality is that longevity brings with it some other issues, especially when it comes to retirement planning.
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