Outliving Savings: Are Retirees Underestimating How Long They Might Live?

A significant share of older Americans underestimate how long their retirement is going to last: i.e., how long they are going to live. The average American lives to an age between 75 and 80. Less well-known, apparently, is that life expectancy rises with age. At age 60, an American man can expect to reach 82; a woman, 85. That knowledge is called longevity literacy, and many of us don’t have it. Listen to Max & Amy's conversation with financial strategist and Chartered Retirement Planning Counselor, Kristina Schuler, about how confusion over the human lifespan complicates the business of planning for retirement.


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