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Well we're not saving enough for their golden years your rights and it's not only because Gavin -- to -- -- -- money.
You haven't planned on living in -- years turns out you could live to be a hundred -- that's the good news.
The reality is a lot of us don't have enough to -- to even take us to seventy -- that.
And -- MarketWatch columnist Bob -- -- it.
That could be the madness good to have you was great story today -- a very intriguing read about I guess the flip side -- good news we live longer but we've really got to prepare more for.
That's right deal so what are the problems that we have in America today is the possibility that you'll live past life expectancy of -- age 78.
So that -- about half of the baby boomers who are living today call -- forty million people will live past that and most of those people -- -- enough they don't anticipate living to age 8090 or even a hundred.
Even though there's only 5% chance that you'll -- to -- both the experts I talked to say that you should really -- so -- 1195%.
Chance of success.
And therein lies part of the problem because you know what can you do to sort of plan for that that the options are very few need to save more.
You need to spend less now.
And you probably need to work a little bit longer.
The worst case scenario is that -- lived too long without enough money.
And having a lower standard of living when you are eighty or ninety is not any way to live in retirement.
But you know when they do those as actuarial tables that -- of those sites -- site has a lot of sites that -- -- -- your retirement you could factor in.
Your your age of outlawing particular need that go.
A lot of people like you say put in you know 808085.
-- -- if you put in a hundred.
But if we did have to put in more time on this planet and we're not saving nearly enough on this planet.
And some of the entitlements we enjoy on this -- -- what they used to be on this planet.
It's going to be an -- planet.
It's going to be a really ugly head so it really takes some planning proper planning but what would you go about would you recommend this -- -- -- -- what they have.
Yes so I think I would look at you know what -- what are -- play and it what do you -- sources of income you have Social Security have defined benefit plan to have a big floral intact.
What do you planned expenses because that's the big that's the big thing people really don't know what they're expenses because they don't know how long that they're going to live.
So -- -- -- recommend doing is okay.
If -- if you hit it match your fixed expenses with you fix sources of income Social Security to all your fixed expenses that's a big help.
If the other thing that you wanna do is make sure that you don't all -- your assets so the more guaranteed sources of income that you can create.
He has a defined benefit as a security may be an incoming new any.
Those in the those are better because you'll never outlive those kinds of assets on the other hand those necessarily don't keep pace with inflation so you'll need some money set aside for what people sometimes call.
-- so you put money to the stock market may be a balance fun.
Something that allows you to keep pace with inflation and hopefully have enough you know should the time come that -- needed -- -- united.
I'm just gonna demand my kids take care of it but we're just I'm starting here.
Well that's like I'm -- to my kids because I know I have to -- my retirement.
I hear Bob great -- and and and you make us think your -- out of MarketWatch in Boston art when you're ready.
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