
According to the Social Security Administration, average life expectancies for current retirees are now 86.5 for women and 84 for men. While this means people can expect to enjoy more than 20 years in retirement, it also means that their retirement savings must sustain them for decades. But for many, the idea of living off one’s savings is terrifying and leads to fear of outliving their assets. In its 2019 “Retirement Planning Survey,” Financial Advisor Magazine reported that 45% of advisors said outliving assets is one of the biggest threats that their clients face in retirement. Another 2019 study from…
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