How Longevity Risk Impacts Retirement Planning More Than You Think A recent study by the Global Financial Literacy Excellence Center at the George Washington University School of Business and the TIAA Institute has shed light on a significant problem in retirement planning: longevity literacy.
The research reveals that many Americans have a flawed understanding of their lifespan, which can lead to inadequate preparation for retirement.
According to the study, only 12% of respondents correctly answered all three multiple choice questions about average lifespan, likelihood of living past age 90, and chances of not making it to age 70.