Some people think that retirement planning isn’t important because they won’t live until retirement. Consider…
| Of 100 Men at Age | Their Odds of Living to Retirement at Age 65 |
| 30 | 84% |
| 40 | 85% |
| 50 | 88% |
| 60 | 94% |
| Of 100 Women at Age | Their Odds of Living to Retirement at Age 65 |
| 30 | 87% |
| 40 | 88% |
| 50 | 90% |
| 60 | 95% |
Source: 2001 Commissioners’ Standard Ordinary (CSO) Mortality Table; based on composite date (combination of smokers, nonsmokers and smoking status unknown); age nearest birthday
Not only will the vast majority of us live to reach retirement at age 65, but with advances in medical technology, we can also expect to live a substantial number of years after retirement. Consider…
| A Man Who Is Currently Age: | Has a Life Expectancy of Age: |
| 30 | 78 |
| 40 | 78 |
| 50 | 79 |
| 60 | 81 |
| A Woman Who Is Currently Age: | Has a Life Expectancy of Age: |
| 30 | 82 |
| 40 | 82 |
| 50 | 83 |
| 60 | 84 |
Source: 2001 Commissioners’ Standard Ordinary (CSO) Mortality Table; based on composite date (combination of smokers, nonsmokers and smoking status unknown); age nearest birthday
The biggest financial risk that anyone faces during retirement is the risk that income will be outlived.
Don’t let a lack of planning keep you from realizing your retirement dreams!
To Read the entire NFS October ’12 Financial Facts, click here.
