In real estate investing, the mantra is location, location, location. In retirement planning, it’s save, save, save!
People are getting older and older before they die. That seems like an obvious statement if you read it one way, but also, the average human life span keeps increasing. The more you live, the more money you’ll need in retirement.
Once upon a time, people were expected to live only five years after retirement age. As the average expected age of death got higher, retirement age remained the same. Some people will simply keep working through their retirement in order to maintain an income. I will probably be one of those people.
Updated August 18, 2011 and originally published July 18, 2003. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.