You keep hearing talk that you will live many years in retirement, and that you had better plan your retirement savings strategy with that in mind.The older population is growing faster than the overall U.S. population.
You’ll live a long time. Base your retirement planning on this:
If over 50,expect to live to age 90.
If under 50,expect to live to age 100.
You’ll be in pretty good health through most of those retirement years.
Most of your retirement income will come from you,not social security.
Future inflation will average 3% a year-a it has over the past 70 years.
Based on all available evidence,prepare to live to a ripe old age. The younger you are today,the longer you are likely to live.
Make your retirement savings plans accordingly,so you don’t find yourself at 85 with your money gone.