Do You Know. . .
How Long Will You Live In Retirement?
In 1900 the average
life expectancy barely reached 46 years. Workers
continued to toil until their literally died with their
boots on. And the few who did make it to 65 could
expect to live another 1.2 years. Today, most Americans
reaching the age of 46 would consider themselves "young"
or perhaps "middle aged."
Americans live longer
today than ever before and can anticipate an extended
period of "retirement life." You may spend a quarter of
your entire life and in some cases even a third in
retirement.
Many individuals
seriously underestimate just how long their retirement
might be. And this miscalculation can play havoc with
retirement planning and finances for later years. The
real problem here? You might run out of money before
you run out of years!
Impossible? Not
really.
Several rough years in
the stock market (really disastrous early in your
retirement) along with an aggressive rate of withdrawal
from your retirement nest egg (that spent 30 - 40 years
developing) can really put a crimp in your plans.
So... how long should
you plan for?
Use this
Life Expectancy Table to help determine how long you
should plan for. Start with present age and add the
number of years in the male or female column. Example:
If you are a male 40 years old, the life expectancy
table indicates you can live an additional 35.9 years,
to age 76.
|
Age Today |
Male |
Female |
|
23 |
51.6 |
57.2 |
|
28 |
47.0 |
52.3 |
|
33 |
42.3 |
47.5 |
|
38 |
37.7 |
42.7 |
|
40 |
35.9 |
40.7 |
|
43 |
33.2 |
38.0 |
|
45 |
31.5 |
36.1 |
|
48 |
28.8 |
33.4 |
|
50 |
27.2 |
31.5 |
|
53 |
24.6 |
28.9 |
|
55 |
23.1 |
27.1 |
|
58 |
20.6 |
24.6 |
|
60 |
19.2 |
22.9 |
|
63 |
16.8 |
20.6 |
|
65 |
15.7 |
19.0 |
|
68 |
13.6 |
16.8 |
|
70 |
12.6 |
15.3 |
|
73 |
10.6 |
13.04 |
|
75 |
9.8 |
12.0 |
|
78 |
8.0 |
10.2 |
|
80 |
7.3 |
8.9 |
|
83 |
7.1 |
9.1 |
|
85 |
5.4 |
6.4 |
|
88 |
4.2 |
5.3 |
|
