You don’t want to gamble with your life, but you do want to understand:
- the risk of outliving your retirement income
That’s why
- the American Academy of Actuaries &
- the Society of Actuaries
- jointly released
- the "Actuaries Longevity Illustrator"
Plug in a few details about yourslf:
- birthdate,
- gender
- health (including whether you smoke)
and the online tool shows a variety of charts:
- average likelihood of living for various lengths of time
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http://www.longevityillustrator.org/