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Is Your Retirement Fund Equipped for You to Live to 100?

Dana Larsen
By Dana LarsenJuly 20, 2018
Is Your Retirement Fund Equipped for You to Live to 100?

As Americans live longer, it’s becoming more and more realistic that seniors today could live to see their 100th birthday, which is why your finances need to be equipped to fund your retirement years.

While the average life expectancy in the U.S. is 78.7 years, many more people are becoming centenarians and life expectancy is continually increasing. This is why it is important to ask yourself now: is your retirement fund equipped for you to live to 100?

The Importance of Being Fiscally Fit for Longevity

Studies show links between health and finance and nine out of ten investors believe health should be prioritized ahead of wealth, according to UBS Investor Watch.

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“Despite overall confidence in living longer, many investors are anxious about the financial implications of old age. Healthcare costs are the top concern. They also worry about having less wealth to pass on to successors and working longer to maintain their lifestyle. In the face of these concerns, investors already have started to adjust their financial holdings and inheritance planning,” UBS states.

Healthcare is expensive, so these expenses need to be proactively factored into your retirement planning now – especially with seniors retiring and using Social Security resources in record numbers.

The bottom line is that you need both a solid financial and mental plan for retirement.

Why You Need to Adjust Your Retirement Fund Now

Everyone’s desired nest egg and retirement fund are different. This is because people have different incomes, lifestyles and spending habits. Forecasting budgets and spending is key to having enough income for a long life.

About 75% of investors in the U.S. told UBS they are making financial changes such as adjusting spending or allocating wealth to long-term investments to meet the needs of an extended lifespan.

The top three asset classes for long-term investing among those surveyed were:

  • Cash
  • Equities
  • Real Estate

Financial experts stress that planning a unique investment time horizon is important for future finances and well being.

Working with an expert financial advisor can help you determine your ideal nest egg for retirement and investment time horizon.

How would your financial planning change if you knew you were going to live to 100? We’d like to hear more about you and your retirement fund in the comments below.

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Dana Larsen
Dana Larsen

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