Friday, January 25, 2013

The Long Years of Retirement

How long do you expect to spend in your retirement years? Maybe longer than you think. According to a new demographic study conducted by BlackRock Investor Watch, if you are a healthy couple entering retirement at the age of 65 today, there is a 50/50 chance that at least one of you will survive to the age of 92.

That's the good news. The bad news is that many investors and retirees underestimate how many years they will spend in retirement. According to the BlackRock survey, 31 percent of the respondents said they expected to be retired for 15 years or less. In reality, the median is more like 27 years.

The upshot is that only half of all workers surveyed knew how much they had to save to account for all those retirement years. That's a difficult state of affairs.

No comments:

Post a Comment