Planning for Retirement? You're Probably Underestimating Your Spending

For many, making it to retirement feels like crossing the finish line of a marathon. With their career behind them, they hopefully will be able to stretch out, relax and float comfortably into the sunset. But there's another leg of the race to be run, and this one's a little slower paced but possibly just as long as the first.

People are living longer, compared to previous generations, meaning retirements last longer on average. The Social Security Administration even has a showing a trend that the longer someone lives, the more life expectancy increases (for example, a 65-year-old man has a life expectancy of 84, but if he lives to 70, his life expectancy increases to 85.5)., the earlier someone retires, the longer they'll live.