We are living longer than we ever imagined or planned for financially. The life expectancy of a female born in the 1920’s was 61 years of age – my Mom is now 90. My own current life expectancy is 74. If I live 29 years longer than expected, like my Mom – I may live to 103. Doesn’t really sound like a problem, does it. It could become a significant problem for those who aren’t prepared. I didn't plan to live over a century – did you? We are the generation of “live for today” while planning for tomorrow. We like to spend money on our kids to give them advantages we never had. My parents, who grew up in the depression, spent sparingly, went without and saved for their retirement – never imagining they could live into their 90s. I have lived for the moment, travelled, enjoyed fine wines and dining out, spent on my kids and saved some for retirement
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