Retirement Security Challenge Americans Get Wrong

Perceived life expectancy acts as a self-fulfilling prophecy for retirement: If you assume you won’t live long past retirement, you don’t save as diligently, a recent TIAA report finds. And in fact, people often assume they won’t live that long: only 33% of U.S. adults correctly understand how long a 65-year-old will live on average, with 32% underestimating it and 22% saying they don’t know. This can “create a critical retirement security challenge,” the report concludes.  Read Full Article »