Retirement planning is a daunting exercise for most Americans, who are exhorted to save as much as possible for their golden years. But there’s another essential piece to retirement that most people struggle to understand and that threatens their long-term financial security, according to recent research.
That little-understood cornerstone of retirement planning is accurately estimating your longevity, or understanding how long you’re likely to live once you hit retirement age, according to recent findings from Annamaria Lusardi, an expert on financial literacy and a professor at Stanford University as well the TIAA Institute.
