Don’t Let COVID Cloud Your Plans for a Long Retirement
As humans, most of us seem to inherently understand that living a long, healthy and happy life is a gift to be cherished, but not one afforded everyone. Today’s longer life expectancies have even changed the way we plan for retirement.
But for more than a year now, the potential for a long life, well-lived has collided with fears associated with the COVID-19 pandemic.
For many of us, this fear has formed a cloud of uncertainty that now looms over our retirement, even as we recover from the pandemic. A new paper from the National Bureau of Economic Research uses the term Survival Pessimism to describe this cloud, which simply means not expecting to live a very long life. In the study, people in their 50s, 60s and 70s underestimated their average expected lifespan. The translation: For over a year now, for many of us, the fear of dying has overshadowed living a rich and rewarding life after we retire.
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