What chance do you have of living to 100? And, can you afford to do so? Explore life expectancy trends and what it takes to fund a long life.
The good news is that you can have a good chance of living a long time.
The bad news? Life expectancy in the United States has fallen over the last two years. The Organization for Economic Cooperation and Development (OECD) found that life expectancy in the U.S. has decreased 1.6 years—the most of any country studied.
In many European countries, the average person lives to be 80 years or more. The U.S. has never exceeded 79 years of life expectancy. And life expectancy is worse by several years for people of color.
More bad news? If you are lucky enough to live a long time, it is important to keep in mind that those long lives cost more – a lot more.
When you retire at 65 and live until age 100, you are retired for 35 years. That is only 10 years less than the 45 years you might have spent working. Have you saved enough?
Source: How Much Do You Need for Retirement If You Will Live to be 100?
