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2: Size Up Your Situation

What is Your Life Expectancy?

What is the optimal age to retire? Well, it depends on your preparedness and how long you can expect to live. Reductions in deaths from major diseases (like heart disease, cancer or stroke) have positively influenced life expectancies in the U.S. Currently, the life expectancy for an infant born in 2014 is almost 79 years. And, once you hit major age milestones (65 or more years), your life expectancy can increase.

stages of life
Understanding your life expectancy is important because you will want to have enough resources to cover your life span after retirement. Your sources of income may become limited when you retire.

Calculator

Calculate Your Life Expectancy

How long do you expect to live? Think about it and jot down that age. Now use this calculator from the Social Security Administration to find out your life expectancy. Keep in mind, it’s based on only gender and exact age, but the results may surprise you.

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