Here's Why You Should Plan for Longevity

No images? Click here   By Elizabeth O'Brien | September 15, 2024 People like to tell me how long they’re going to live. It happens when I write about claiming Social Security—readers will tell me that a parent died at a certain age, so that’s when they’re going to die, too. Or they’ll tell me they’re aiming for the average life expectancy. It’s good to be thinking about that, since retirement planning requires some assumptions about how long we might live. Problem is, many people underestimate their possible longevity. I’m not talking about those with a serious medical condition, who might have good reason to believe they won’t make it to their life expectancy. I’m talking about people in average or better health who discount the possibility of living well into their 80s or beyond. Your chances are better than you might think: A man who makes it to 65 will live to 84, on average, while a woman who makes it to 65 will live to 87, according to Social Security’s estimates of life expectancy that take longevity improvements into account. No one has a crystal ball, of course. But it pays to have a clear-eyed assessment about how long you might need your money to last. How Long Do You Expect to Live? It Pays to Make an Educated Guess.       What the Fed's Interest Rate Cut Will Mean for Your Wallet Borrowers stand to benefit. Savers, not so much. The Rich Have Worries. Four Moves They Can Make Now. Attorneys are already getting booked up ahead of the expiration late next year of the Tax Cuts and Jobs Act. The Social Security COLA Estimate Keeps Shrinking The actual cost-of-living adjustment for 2025 will be announced next month. Retirees, It's Time to Give Yourself a Raise 5% is the new 4% when it comes to safe retirement withdrawals. What You Get When You Turn 65 A Barron's writer breaks down the discounts.   More Barron's Retirement Coverage       When Is the Best Time to Do a Roth Conversion? (MarketWatch) Balancing Hope and Reality After a Cancer Diagnosis  (Next Avenue)   *** Stay on top of the tech trade with a daily rundown of top-performing tech stocks and the big names making news. Sign up for the Tech Report newsletter by Investor's Business Daily here.      Social Security   Medicare   Required Minimum Distribution calculator   Getting Ready to Retire? Here's a Planning Guide for the 5 Years Before Your Last Day.   Finra's Guide to Social Isolation and the Risk of Investment Fraud   The SEC's Guide to Identity Theft, Data Breaches, and Your Investment Accounts           This mailing was sent to aymentanaze.news@blogger.com,  because you signed up to be a Barron's newsletter subscriber. Manage Email Preferences | Privacy Notice | Cookie Notice | Contact Us Barron's | 1211 Avenue of the Americas | New York, NY 10036 ©2024 Dow Jones & Company, Inc. All Rights Reserved .         Unsubscribe