F I SCAL FI TN ESS
LIFE EXPECTANCY & RETIREMENT People are living longer, meaning assets need to last longer, too. In 1970, American men could expect to live to an average of 67.1, women to 74.7, according to the Centers for Disease Control. By 1995, those numbers were 72.5 and 78.9 respectively. Now the numbers are 76 for men, 81 for women.
MICHAEL J. DONNELLAN King Financial, Inc.
But those numbers are life expectancy from birth. For those already 65, life expectancy today is actually 17 more years for men and 20 for women, making the average life expectancy for the newly Medicare-eligible 82 for men and 85 for
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women. And thanks to better health care, lifestyles and living standards, a 65-yearold man today has a 30% chance of living to 90—and a 65-year-old woman has a 40% chance of reaching 90, according to research by Ron Gebhardtsbauer, an