Here is some good news from the centre for Disease Control: by 2050, life expectancy in the U.S. will be 87.5 years.
Or at least we thought this was good news. According to a Northwestern Mutual study, it turns out that only 56 per cent of American are financially prepared to live to age 75, and even fewer are prepared to live to 85 or 95. Women are expected to live even longer than men but they’re even more in danger of outliving their finances.
In fact, only 45 per cent of those surveyed have any plan regarding their financial life, down from 72 per cent in 2011.
For more detailed breakdown regarding financial preparedness check out the Northwestern Mutual infographic below:
Photo: Northwestern Mutual