2024 Retirement Planning, Longevity and Health


Longevity is one of the most significant factors in determining how much a client will be able to spend in retirement, and whether savings will be sufficient to meet their goals. Planning to age 95 has become a little questioned industry rule of thumb, but the vast majority of Americans will not live to age 95, even if they are in good health. In fact, 95% of retirees in their 60s or older have at least one chronic condition that will reduce their actuarially projected life expectancy.

As with all aspects of retirement planning, advisors should use the best available data to help clients address their individual needs. Actuarial longevity provides a foundation for discussions that consider savings required to meet income goals in retirement, the needs of a surviving spouse, the desire to leave a legacy, and the risk of living longer than expected.

This report reveals actuarial longevity projections based on key factors, discusses strategies for financial professionals, and illustrates a case study for additional insights and considerations.