Keep Saving: You May Live Longer
Than You Think

Have you thought about how old you may live to be? There is both good news and bad news in the longevity department. The good news is Americans are living longer than ever. The bad news is that many of them are failing to plan for that extended lifespan, putting their financial security in retirement at risk.

Life expectancy for newborn males increased from 66.6 years in 1960 to 75.7 years in 2010. For females, it grew from 73.1 years to 80.8 years in the same time frame. Perhaps more to the point, today — for people in average health — men who reach age 65 have a four in 10 chance of living to age 85; women’s chances are greater than five in 10.*

When planning to support yourself in retirement, it is important to realize that an average life expectancy is the middle value, and that means half of people will live longer. In order to ensure you have adequate funds for your entire retirement, you may want to overestimate, rather than underestimate, how long you will live.

To work toward a financially secure retirement, consider these tips:

  • Consult a life expectancy calculator. Start by estimating how long you may live. You can find links to online calculators at
  • Project how much you need to save to fund a comfortable retirement. The Ballpark E$timate® at can help.
  • Estimate how much retirement income you can expect. Include all the sources from which you expect income — Social Security, a retirement plan at work, individual retirement accounts (IRAs), other assets, etc. You can get an estimate of your Social Security benefits at
  • Calculate the difference between what you will need and what you expect to have coming.
  • Devise a strategy to bridge the gap, if there is one.

An investment professional at Chemical Financial Advisors can help you get on the path to the retirement you hope to enjoy. Schedule an appointment for a portfolio review today. Call 800.808.5404 or visit

* Source: Society of Actuaries, “2011 Risks and Process of Retirement Survey Report,”

Securities, insurance products and advisory services offered through Cetera Investment Services LLC, member FINRA/SIPC. Investments are: * Not FDIC insured * May lose value * Not financial institution guaranteed * Not a deposit * Not insured by any federal government agency. Cetera is under separate ownership from Chemical Bank and its related companies. Advisory services may only be offered by Investment Adviser Representatives in connection with an appropriate Cetera Advisory Services Agreement and disclosure brochure as provided.