Longevity, the uncertainty and managing the risks
A key to any plan is knowing how long the plan is needed. For retirement, the plan is often based on life expectancy, which has been steadily increasing over the past 100 years. While the concept of life expectancy appears simple enough, some common misunderstandings can create problems for financial advisers and their clients. Today’s retirees are now typically living into their late 80s; 10 years longer than they did in the 1990s. In 2020, the most common age of...
