Are Most Workers Underestimating Their Retirement Length?
Because Social Security won't be enough to sustain the average senior, it's on us to save independently for retirement during our working years. Now when we think about how much money we'll need to accumulate in time for retirement, there are several factors that should go into the mix, and these include lifestyle goals, estimated expenses, and life expectancy. And it's the latter that many Americans might be making the mistake of underestimating.
In a Nationwide and InvestmentNews study, workers across the board estimated their retirement length at 22 years. Financial advisors, however, think it's prudent to tack eight years onto that figure. The question is: Are they right?
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Source: Fool.com
