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October 08, 2024 at 11:05 AM
Investors tend to greatly misjudge their longevity, according to survey data published by Jackson National Life Insurance, but the ways in which they do so are not so straightforward.
On the one hand, younger and healthier investors actually tend to over-predict their life expectancy — often by significant margins. Those who assess their health as being poor as they enter retirement, conversely, tend to under-predict how long they are likely to live during life after work.
The result, according to Jackson researcher Glen Franklin, is a lot of confusion about longevity risk. Add in a healthy dose of confusion about inflation and its long-term impact on retirees’ buying power, and the result is a worrying lack of insight about big retirement risks.
On this episode of Ask the Retirement Expert, Franklin sits down with ThinkAdvisor Senior Reporter John Manganaro to discuss what financial advisors can do to help correct their clients’ views about the linked challenges of longevity and inflation. Other topics discussed include:
- The evolving science of longevity
- Shifting perspectives about the roles of guaranteed income
- Forthcoming research from Jackson and more
To listen to the previous episode, click here.
To listen to additional podcasts within the Ask the Retirement Expert series, click here.
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