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Bad Retirement Savers Expect to Die Young
By Allison Bell
What workers think about their retirement savings is closely related to how long they think they will live, according to a new Club Vita life expectancy survey.
Workers who said that their savings would be enough to pay for a comfortable retirement agreed with Club Vita about how long they might live.
Workers who said their savings would be too small to pay for a comfortable retirement predicted that they would die about 7.1 years earlier than Club Vita would have predicted.
The Overall Life Expectancy Prediction Gap
Club Vita calculated each survey participant’s life expectancy using standard demographic information, such as age, sex and location, but without using information about the participant’s lifestyle, chronic health conditions or exposure to COVID-19.
Typical participants were much more pessimistic about their life expectancy than Club Vita.
Club Vita was 6.1 years more optimistic about life expectancy than the average female participant and 2.5 years more optimistic than the average male participant.
Read more @ThinkAdvisor
