The big reason many retirees run out of money

If you’re in retirement now, or approaching it, you know there are many things to consider and many decisions to be made that will be important in determining your financial well-being for the rest of your life. Among the most crucial: estimating how long you’ll live. After all, no one wants to outlive their assets.

I’ve had conversations about these topics with many friends who have retired in the past several years, and the most surprising observation to me is how many people underestimate how long they’ll live in retirement. In fact, many people really don’t expect to live very long, say even into their 80s.

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