With increased life expectancy, coupled with historically low interest rates, will require you to save more that previous generations.
You may have to accept retiring later or anticipate a reduced standard of living if you delay saving.
You may have to adopt riskier investment practices if you delay saving also.
In 1980 a male retiring aged 65 would have expected to live for an additional 10 years.
Today the additional life expectancy for a 65 year old male is 18 years.
It may seem hard to believe but for a married couple currently aged 65 and in good health, there is now a one in four chance that one of them will live to 99.
Couple that with the fact that prevailing annuity rates in 1980 were approximately 15% and today are down and lower than 3% - it is clear that individuals need to make sure that their capital is working as early and as efficiently as possible.
The good news is that we are living longer; the bad news however is that we are also living longer!
Discussing your objectives with a qualified professional financial planner should be your first decision !!
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