![]() ![]() How Much to Save For Retirement - Whether calculations are done online or with a “paper and pencil” worksheet, life expectancy is a key variable. ![]() Be sure to take note of the assumptions used for each calculator as results will likely vary.īelow are three key financial planning decisions where life expectancy estimates are important: Simply type the words “life expectancy calculator” into an Internet search engine and compare the results of at least three different calculators. Hundreds of online life expectancy calculators incorporate these factors and can provide an estimated life expectancy. Life expectancy depends upon a number of factors including personal and family health history, occupational health risks, health behaviors, and safety practices (e.g., wearing seat belts). With increased longevity come the twin financial challenges of saving adequately for retirement and carefully planning withdrawals from savings so as not to outlive assets. In 1900, average life expectancy at birth was 47.3! At age 65, average life expectancy is 18.7 years and many people will live a lot longer. Average life expectancy for a baby born in the U.S. The life expectancy of Americans has increased remarkably during the last century. People who practice healthy behaviors, such as not smoking, exercising regularly, and eating healthy foods, increase their chances of living a long life. ![]() The longer people live, the higher their projected life expectancy. Life expectancy is the remaining number of years that someone is expected to live. One important connection between health and personal finances is life expectancy. Rutgers Cooperative Extension’s national award-winning program, Small Steps to Health and Wealth™ helps people make positive behavior changes to simultaneously improve their health and personal finances. Extension Specialist in Financial Resource Management ![]()
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