Livingto100: This calculator is based on data from the New England Centenarian Study, the largest study in the world of people who live to 100. Some of the best life expectancy calculators include: These calculators offer no guarantees of accuracy, but they might help you come up with a life expectancy that is perhaps more realistic for you. Lifetime expectancy calculators use data to help assess how long you yourself are going to live. If you retire at 65 and only live till 68, you will need only a small fraction of what you will need if you were to live till 98. How much you need for retirement is hugely impacted by how long you will live. How long you live represents an immense factor in planning for your retirement. In this scenario, you would need an additional $24,000 a year in savings to make ends meet for every extra year you live. Let’s say your household needs $60,000 a year to live on and your Social Security income amounts to $36,000. There is no way around the fact that longer and healthier lives cost more money. What Do Longer and Healthier Lives Mean for Retirement Planning? While, a 65-year-old American man can expect to live to almost 83, an 85 year old man can expect to live past 90 - on average.Īnd further good news is that we are living healthier and more robust lives. “Old” people now feel younger and more vital. A longer life begets an even longer life. But at least half of us will live even longer - a lot longer.Īnd there is a twist, the longer we live, the longer we will live. That means that - according to the Social Security Administration - the average 65 year old man will live until 83 and the average woman will live until almost 86. And, women can expect to live around 20.6 more years. The average life expectancy for a 65-year-old American is now 18 more years on average for men. While life expectancy in the United States has dropped slightly, Americans are living longer than any previous generation - a lot longer. Your longevity is one of the most significant unknowable factors that determine how much you need for retirement, how much you can spend, how much time you have to do the things you want to do and more. Estimating your longevity using one of the best life expectancy calculators can be a good way to improve the accuracy of your retirement financial and lifestyle projections.

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