Saving for Retirement

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Plan for a long retirement

Thanks to healthier lifestyles and breakthroughs in medical technology, life expectancy for Americans has increased significantly during the past half-century. While it's good news that you can expect to live longer in retirement and have a better quality of life, it also means your investment portfolio may need to last for 30 years or more.

For example, here's the likelihood of 65-year-olds living to certain ages, according to figures from the Society of Actuaries:

  • Male. A 65-year-old man has a 41% chance of living to age 85 and a 20% chance of living to age 90.
  • Female. A 65-year-old woman has a 53% chance of living to age 85 and a 32% chance of living to age 90.
  • Couple. If the man and woman are married, the chance that at least one of them will live to any given age is increased. There's a 72% chance that one of them will live to age 85 and a 45% chance that one will live to age 90. There's even an 18% chance that one of them will live to age 95, as shown below.

The following interactive example is designed to estimate the probability of living to a specific age.* You may enter your current age alone—or your and your spouse's current ages—and a number of years to see the chances of living that long.

Probability of living a selected number of years

%
20
15
10
5
0
6
13
18
Person 2
Person 1
Name
Current age
(Range 20-100)
Gender
Time frame
(Range 20-100)
years
Number of people

NOTE:

* Calculations are based on mortality data from the Society of Actuaries Retirement Participant 2000 Table.

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