Four Tips to Navigate a 30-Year Retirement

“Americans are living longer, which is a great thing, especially if you have the money to afford a nice, long retirement. A new study released by Wells Fargo (NYSE:WFC) and the Stanford University Center on Longevity called "Planning for the 30+ Year Retirement," finds that the average age in retirement has gone up from 13 years in 1960 to 18 years in 1990 to 20 years in 2020. As life expectancy is expected to increase and retirement age remains stagnant, as it has been since the 1960s, the researchers expect the average length of retirement to continue to extend over the next 30 years.

However, planning for a longer retirement is much more complicated these days than in years past. Not only does the nest egg have to account for more years in retirement, but pensions are increasingly becoming a thing of the past and Social Security benefits could be cut by 2035 if new funding sources are not secured. So not only is it important to financially plan for retirement, it is also critical to plan in retirement.” Click here for four tips to help you better plan while in retirement.

Source: The Motley Fool
4-minute read.