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How to Avoid Outliving Your Retirement Savings

Most people look forward to retirement and the prospect of new hobbies, travel and quality time with family. Improvements in medical care have increased the length of time that retirees may have to enjoy these years. However, with longer retirements comes a new challenge: Will your retirement savings last?


You might be surprised how long you need to plan for. In 1970, the average retirement lasted between 12 and 16 years. Now it’s common for retirements to span 20 years or more1–and that number may continue to increase in light of potential future medical advances. Current data suggests more than a third of 65-year-olds will live to age 90, and the likelihood that at least one member of a couple will live to that age is nearly one in two.2 And higher income and education levels tend to increase the likelihood of longer lifespans even more.


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