You Might Live Longer Than You Think. Your Finances Might Not.
Financial planning tends to overlook longevity, a factor that can far exceed life expectancy.
Here are two numbers that people ought to know but often don’t: how many more years they are likely to live and the probability of living much, much longer.
The good news is that many Americans live a lot longer than they expect. The bad news is that this often leads to financial regret as they realize, sometimes too late, they might have claimed Social Security too early, passed up the opportunity to buy annuities or long-term-care insurance, or simply undersaved for all those added years of retirement.