There’s no getting around doing the math
Are you part of the 40% of seniors who are worried about dying, or are you one of the 60% of seniors who are more worried about running out of money? Thinking about how much time you’ve got left is not easy, but we think you should do it in order to ensure all your bases are covered.
Online calculators can give you an idea about your longevity. A lot of things can be factored in: your gender, age, current health condition and family history, but more advanced calculators might ask for more information. Gather it all up, steel yourself and find out what your life expectancy looks like.
Speak to your doctor about this too. It’s important to have a candid discussion with your physician as they can shed some extra light on what they think your medical emergency fund should look like during retirement. Having enough money to help with some health risks is imperative.
