On average, women in the U.S. live longer than their male counterparts, making outliving their income in retirement a very real possibility for many.
According to a 2019 study from T. Rowe Price measuring gender and retirement:
Numerous factors and complex calculations go into determining how long your income may last, including your savings rate, portfolio asset allocation, tolerance for risk, and when you retire. With the help of sophisticated scenario strategy software, we can collaborate on a comprehensive strategy based on realistic projections for how long your income may last, and then monitor and adjust your strategy as needed to help keep you on track.
If you’d like to learn more about strategies to manage longevity and other financial challenges in retirement, call the office at any time to schedule an appointment.
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Living Longer Means More Income Needs
August 16, 2021