7. Longevity Is a Blessing and a Risk

“...According to the National Centre for Health Statistics life expectancy in the U.S. is approximately 80 years, so I should plan for about 15 years of retirement....”

—Myth #7

The life expectancy number is quite true, and one often reads that at the end of the 20th century, life expectancy in the U.S. hit a record high of approximately 73.6 years for males and 79.2 years for females. Based on statistics from the Social Security Administration (SSA), which apply to the U.S. population in its entirety, these numbers have been steadily increasing over time: In 1950 the respective values were 65.6 for males and 71.1 for females. Yet, you might wonder why there is all the fuss about financing a long period of ...

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