That means making smart decisions about how to invest and how much to spend each year.
When you look at the facts behind longevity – how long you are likely to live – you’ll understand our laser focus on spending and investing wisely.
There’s a handy-dandy longevity calculator put out by the Society of Actuaries showing how likely you are to live to an advanced age (actuaries are the math whizzes behind all the computations used by pensions and insurance companies).
So here’s the facts:
A 55 year-old couple today in good health faces a 52% probability that at least one spouse will be alive at age 95.
And there’s a 25% probability one of you will be alive at age 99.
Odds are, your portfolio and retirement income stream need to hold up for forty or forty-five more years. That’s probably longer than most people were ever in the workforce in the first place!
So unless you’re planning to get by on just love or your good looks (as your mom might have said!), it’s probably a good idea to make that money last.