Many people saving for retirement fail to take into account how living longer will affect how much they’ll need once they stop working. What should they do?
Retirement is a major financial milestone for many individuals. However, there is a significant blind spot that many people have when it comes to retirement planning, which is the potential for living longer in retirement than they worked.
In the past, we have seen people retire at age 65 and live for another 10 to 15 years. However, with the advancements in longevity science, people are living longer, and the idea of living 15 years or more in retirement is — in my opinion — underestimated.
