Longevity Planning Facts according to Social SecurityA man’s age 65 life expectancy is age 84.3A woman’s age 65 life expectancy is 86.7One out of 4 65-year-olds will life past 90; one out of 10 will live past age 95.If you are healthy, your income plan should provide income at least until your mid 90’s. You certainly don’t want your plan to fail because you live longer than average.Source: https://www.ssa.gov/planners/lifeexpectancy.html Complicating factorsInflation. The last 20 years the average inflation rate has been 3.22%. At a 3.22% inflation rate we will need twice as many dollars in about 22 years than we need today. Social Security has a Cost of Living Adjustment that will take up some of the slack. The formula is different than the Consumer Price index.The Trustees of Social Security estimate that by 2034 the trust funds will run out if no changes are made in Social Security. At that point Social Security will be able to pay only 79% of benefits. Congress can address this issue before 2034, or could wait to the last minute, or do nothing at all. Long Term Care issues.Premature death causing loss of Social Security benefits of spouse. Not affiliated with or approved by the Social Security Administration or any other federal or state governmental entity. PEOPLE DON’T PLAN TO FAIL, BUT MANY FAIL TO PLAN Have a Question? Name Email Address Phone Question Thank you! Oops!