QUESTION:

Living Longer -- Yikes!

Have you seen the news? Americans are living longer than ever before. The Centers for Disease Control - CDC - announced yesterday that the average lifespan is now 77.9 years (80.4 years for females and 75.2 for men).

Yikes... Those numbers are just the averages... Because I am healthier than average, does this mean I will live forever? I am glad I'll be around a long time, but it sure does put a crimp in my financial plan for retirement.

How have you planned for longevity in retirement? Did you guarantee enough income to last until a certain time? Did you buy insurance -- an annuity or long term care insurance? Will Social Security alone be enough to take care of me if I get to 90?

Does anyone what the average lifespan of someone is who doesn't have a genetic or other risk of any of the leading causes of death (heart disease, cancer, stroke, diabetes, alzheimers)?
asked by intothenews, 4/20/2006
Categories: Annuity, Long Term Care, Budgeting, Longevity Calculator, Long Term Care Insurance, Health and Health Care, Financial Planning for Retirement, Retired, Aging, Asset and Income Protection Insurance, Retirement Income, Leisure and Lifestyle
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