Guess how much longer the average 60-year-old will live these days?
It’s different for everyone, but there’s a good chance you may not know.
Most of us aren’t up-to-speed on the latest longevity data (by the way, the answer is 82 for men and 85 for women).
And because we don’t have a solid understanding of our own life expectancy, we’re not making the best plans for a longer life in retirement.
This month we’re focusing more, in our VIP community, on Decades of Freedom: How Longevity Can Impact Your Retirement
How long will your retirement account last if you stop working at age 60?
There’s obviously no definitive answer, but these days, retirement can last at least 20 to 25 years if you retire at 60.
That’s around a decade longer than a 60-year-old retiree 50 years ago.
By the time you’re 65, according to recent averages, there’s a 70% chance you will need long-term care (LTC). Options may include adult day care, in-home care, or a private room at a nursing home, for example.
If LTC is needed, you could be facing bills that range from $1,600 to more than $8,500 a month.
And you may have to cover these charges for the next 20 to 25 years.
Tip: Even if you’re in tip-top health, to be safe, it’s best to crunch the numbers now. Don’t forget to factor inflation into your projected calculations.
If you retired tomorrow, would your current retirement plan allow you to thrive for 30+ years?
Retire Before You Expire! You really don’t know what you don’t know unless you know your retirement independence number, income gaps, and how to guarantee it is solved for peace of mind and financial security.
Tap this link to learn more…
https://financeinsights.net/Jp3jhwGllHz3WVYtG7KqMsbzXd6?email=info%40shatekahusser.com
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