Retirement Plan Preparation: the life-expectancy factor Professor David Demko, PhD AgeVenture Syndicated News Service 08-17-05 No matter what your retirement destination, make sure you have enough gas in your tank to get where you're going. When it comes to financial planning for retirement, experts advise building a retirement nest-egg that will generate an annual income equal to 80% of your working wage, if you expect to maintain your current standard of living. You will also need a hedge against inflation, and six months worth of emergency money. But that's another story. Knowing the yearly amount of income necessary to sustain yourself in retirement is only half the story. The next step is knowing how many years you might need that annual retirement income. Estimated life-expectancy at age 65 is an additional 18 years. So, you plan financially for retirement by building an income nest-egg that is equivalent to 18 years X your annual retirement income. With an 18 year life-expectancy at the age 65, you can expect to live, on average, to be 83 years of age. But, will you be the exception? You just might beat the odds and live even longer. But how much longer? Here's the life-expectancy factor you need to know in order to enlighten your retirement plans. At the age of 65, your chance of living to age 85 years is 1 in 2 for women and 2 in 5 for men. 90 years is 1 in 3 for women and 1 in 5 for men. 95 years is 1 in 10 for women and 1 in 20 for men. 100 years is 1 in 20 for women and 1 in 100 for men. Remember, 80% of the factors that determine how long you will live are determined by lifestyle. Healthy nutrition, diet, physical and mental exercise, and a sense of purpose are the lifestyle factors that will enhance your chances of "beating the averages" of life-expectancy and time spent in retirement. Now, you are no longer left in the dark about the life-expectancy factor in retirement. Make your retirement plans accordingly. And stay tuned to AgeVenture for more enlightenment on the factors influencing your retirement preparation plans. See related articles in AgeVenture archives. AgeVenture Headline News AgeVenture Lifestyle Features AgeVenture News Service, www.demko.com BACK TO TOP