What is Your Life Expectancy?

Ever wonder what the government thinks is your life expectancy?

For financial planning, one of the key determinants of success or failure is how long a retirement you will have.  Studies show that outliving your nest egg is the #1 or #2 fear of most retirees.

When social security was created, the average recipient lived roughly 7-9 years on social security before passing away.  That figure is long gone, as some retirees are planning for 30-35 years in retirement.  The inputs and assumptions of a financial plan are very important.  If you are currently doing a financial plan or looking to do one, here is a table of expectancies for various ages.  In my opinion, at a minimum increase that number by 5 years for planning purposes.

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