weekly blog--one for the ages
And the headline has nothing to do with today's chilly weather. People are living longer. To be happy and fulfilled during your extended life, you will need to be able to support yourself financially and emotionally. And it should come as no surprise that most people are poorly prepared for the effects of rising life expectancy.
The usual response is to push back your retirement age, cut the pension and increase the contribution rate. But a 100-year life requires more than a change in financial planning. There is no financial nudge big enough to deal with it, and some of the big changes will have to come from our non-financial behavior.
Some lessons learned from one retirement expert: