In the same issue there is a Tax Tip on page 5 about the Saver’s Tax Credit that is certainly relevant as the tax filing deadline approaches.
Another fascinating article “Living to 100…” states that at age 65 more than half of Americans will need to fund a retirement that could be longer than the 14 to 17 years of “average” life span. (Beth Pickenpaugh, actuary and financial planner contributed the article). In other words, many of us can expect to live longer than 81 (65 plus 17).
There are two websites to help you calculate life expectancy – www.livingto100.com and a table published by www.health.ny.gov.
The interesting point about the table published by New York is that it shows that the older you live, the longer you are likely to live. That is, if you have reached the age of 86, the chances of reaching the age of 88 or 89 are statistically very good.
Baby Boomers are coping with this longer life expectancy by retiring later – or not at all. They are also utilizing Estate Planning methods to secure assets for their future benefit and the benefit of their children and grandchildren.
This post has been brought to you by the Law Office of Barbara Ann Dalvano. This information is provided for educational purposes only and to generate ideas, provoke thought and facilitate conversation. It is not intended to create an attorney-client relationship. Each person’s situation is different and this information should not and cannot be relied upon as legal, tax, accounting or investment advice.
Barbara Ann Dalvano, Esq.
Phone and Text Message: (719) 963-2933
Email Address: [email protected]
Feel free to visit our website at www.attorneybarbaradalvano.weebly.com.