Myth 10: I won’t live long enough to enjoy my savings

If your excuse for not planning for retirement is that you won’t live long enough to enjoy your savings, you could undermine your financial security and your golden years. Why would you want to do that?

Next time retirement plans come up, keep in mind that current, as well as future retirees, have a longer life expectancy compared to previous generations. Men aged 65 today can live until age 84, while women aged 65 today can live to more than 86.5 years old, according to the Social Security Administration. This means you’ll need to make sure you have enough money to live comfortably for at least 18-20 years.