50%: Pre-retirees who claim to know how much to save for their full retirement lifespan
Only half of workers know how much to save in order to cover their lifespan after they fully retire, according to the latest BlackRock Investor Watch™ research. Understandably, retirement planning can be overwhelming, but setting realistic timeframes is a good way to get started.
A healthy couple aged 65 in the US today has a 50% chance that at least one of them will live to the age of 92. If the couple stops working at age 65, that translates into 27 years of retirement. However, 31% of investors plan to be retired for only 15 years or less.
In this new world of retirement, investors should work with their financial advisors to account for these longer lifespans. With thoughtful planning, longevity can be a blessing and an opportunity.
Source: BlackRock Investor Watch™ survey, Fall 2012
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