At first glance, it may seem that retirement planning hasn t changed much over the years. However, today s savers face different challenges than those of previous generations. These new hurdles can change the planning process s details quite a bit, even in the final years.
Longer Life Expectancies
The first thing people want to know when they begin retirement planning is how much they will need to save. The answer depends on several different factors, including one s life expectancy.
Thanks to advances in healthcare and technology, individuals live longer than they used to. According to the Social Security Administration, life expectancy at birth in 1930 was only 58 years for men and 62 years for women. Today, the average American lives to be 78.6 years old, with more than 30% of 65-year-olds living into their 90s.
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actually need. the coverage you need for yourself depending on how healthy you are and what your underlying condition is rather than 10 essential benefits which covers everybody else. and again 5% of americans use 50% of the healthcare. those sick being covered by healthy young people. sandra: as a medical professional you re a fan of what you re hearing so far being proposed by the trump administration. i like choice. sandra: it increases competition. democrats aren t happy about this. this is what nancy pelosi said. americans purchasing these trump care plans will be one diagnosis away from disaster discovering they ve been paying for coverage that may not cover basic care such as cancer treatment, preventive care or maternity care. your response. we are talking about 12 months here. this is a proposal that will be gap insurance. i would call it gap insurance.
class. we saw with democrats in the obama middle class, these enormous initiatives of greatest importance to the poor. obama had gap insurance for people in the poor to middle class and people long-term unemployed in the recession. if democrats shift their focus towards issues like child care and things like that these are issues for families mostly in the workforce. more middle class concerns than before and republicans, i think, are trying to grope towards economic ideas other than cutting tax rates at the top and on capital. i don t think they ve made the shift on policy but there s been a rerk cognition that it needs to move towards the middle class. you re seeing hostility towards programs like cash welfare, trying to find ways to make poor people jump through hoops. i see more of a substantive shift away from the polls of the economic distribution. i think that s interesting, if