This week’s theme on the Retirement Quick Tips Podcast is: the single biggest threat to your retirement

Today, I’m talking about what you can and should do to mitigate longevity risk in your own situation. This episode is part one of 3 episodes where I’ll cover what you can do to mitigate this single biggest threat to your own retirement.

Plan to live at least to your life expectancy and make decisions with that assumption - SSI’s calculator: https://www.ssa.gov/oact/population/longevity.html - 60 yo female today has a life expectancy of 86 For men, it’s 83. I usually advise clients to plan on living to be age 90 as a worst case longevity scenario, so you can make decisions with that timeline in mind. Take into account both spouses when married, since the money will need to last for both of you.

That means you’ll want to decide when to retire based on your life expectancy vs. planning to only live until age 75 or 80. And making social security and pension claiming decisions with that same life expectancy in mind.

That’s it for today. Thanks for listening! My name is Ashley Micciche and this is the Retirement Quick Tips podcast.

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Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance