How many years do you have to save for retirement?

On average, my family lives to a ripe old age which is lovely but it got me to thinking about my post retirement years

So, if I want to be ‘safe’, following the economists predictions that if I make it to 75, I can expect to last at least another 12.2 years! The chances of my money sticking around with me are much, much lower ….  I need to save enough money to live until I am 87 years old but allowing for genes probably nearer 95!

Unfortunately retirement funds do not make their calculations based upon a life expectancy of 95 years in fact they have said they don’t think they will afford them in the future hence the retirement age being pushed out to 70 in the near future.

So, taking the above scenario into consideration, I have calculated that in 3 years, I must earn sufficient money, to not only provide for my active working years, but also for 35 years of saving for retirement. I have to save as well as cover other commitments such as medical expenses, car and bond payments, household expenses and hopefully the odd holiday too.

How do I do this with savings or unit trusts or retirement annuities that produce interest that barely keeps pace with inflation?

When I do the numbers, I worked out that my retirement funds will last 5 years if I’m careful … then what!
Checkout how your  retirement  funds shape up here, Then you can take a look at My Solution to Fix My Shortfall, could it be your solution as well?


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