Longevity Risk: Live Too Long
Longevity Risk: Live Too Long
How did living a long life because a financial risk?
As we live longer and healthier lives, we risk outliving out assets. We could end up in poverty, relying on the government or family to cover our basic living expenses. Or we could become ill and incur unexpected medical costs that quickly deplete a lifetime of savings.
Surprising Facts
Over 60% of everyone who has ever lived past age 65 in the history of mankind is alive now.
A couple retiring at 65 can expect that at least one of them will live for 25 years, to age 90.
Key Questions
Chances are that you don't know your life expectancy and haven't given serious thought to the questions below.
Income Needs
- How much income will you need to cover your lifestyle for life?
- How reliable are your sources of income?
Asset Adequacy
- Could you outlive your assets?
- If so, what can you do now to change direction?
Emergencies
- How will your assets hold up if you need to dip into them for a critical illness or long term care?
- What options are available to you for emergencies?
page revision: 8, last edited: 17 Dec 2012 16:20