Americans Clueless About Life Expectancy, Bungling Retirement Planning

Ashlea Ebeling

Financial planning to age 120: Society of Actuaries says Americans need to plan for living longer. The Society of Actuaries found that more than half of Americans underestimate their life expectancy, and that their financial planning time horizons are too short. Once folks get the notion that half of people will outlive the average life expectancy of their age group they need to revisit their financial planning time horizon. The Society found that retirees’ horizons are not long enough for adequate retirement planning.

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