Wall Street Journal financial writer Jonathan Clements once wrote, “Retirement is like a long vacation in Las Vegas. The goal is to enjoy it the fullest, but not so fully that you run out of money.” I’m at that age when the clammy hand of mortality rests uncomfortably on my shoulder, so perhaps it’s time to start thinking about my retirement before my boss does.
According to the Social Security Administration, a man reaching age 65 today can expect to live until age 84 (a woman until 86). It goes on to say one of every four of us who make it to 65 will live past 90, and one of 10 will live past 95. This is terrifying for anyone who’s ever tried to enter numbers into a retirement calculator to figure out if one’s retirement savings will last.