And now, for how long will you be in retirement?

According to the Actuaries Institute of Australia, an individual aged 65 and now commencing retirement will have a life expectancy of 21 years for males and 24 years for females.  The Institute also noted that one in three individuals now entering into retirement should attain age 90 and one in five will attain age 95.

Those nearing retirement may have to consider that their retirement savings may have to last more than 20 years.