This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Longevity Risk Not A Topic Of Discussion For Majority Of Middle-Income Americans, New Study Says

CHICAGO, March 26, 2013 /PRNewswire/ -- One out of every four 65-year olds today will live past age 90.  Yet, for 87 percent of our country's middle-income Americans age 55 and older, the idea of one's own longevity is often not contemplated or discussed, according to a new study released by the Bankers Life and Casualty Company Center For A Secure Retirement ® (CSR).  

The study, Longevity Risk and Reward for Middle-Income Americans, which surveyed 500 Americans ages 55 to 75 with an annual household income of between $25,000 and $75,000, found that middle-income Americans do not spend much time thinking about longevity. In fact, for most, longevity is not a topic of discussion.

Discussing Longevity with Others

  • Doctor (50%)
  • Spouse or partner (49%)
  • Children (34%)
  • Professional advisor (21%)
  • No one (15%)

Self Perception on LongevityDespite their reluctance to discuss longevity, those surveyed accurately estimated average life expectancy for American adults.  On average, respondents with a median age of 65 said they think they will live to age 86, irrespective of gender, income or health.

When it comes to perception of common factors influencing longevity , two-thirds feel that their life expectancy is out of their control, saying that genetics (65%) is the determining factor in how long they will live as compared to their own actions, such as eating right (46%), exercising (44%) or smoking (37%). 

Longevity Risk and RewardsLiving longer has its rewards.  Middle-income retirees say they are having experiences in retirement that they never imaged, such as travel, volunteering and community involvement. 

However, longevity also comes with risk.  According to the study, the two primary concerns are declining health associated with age, and the ability to create a sustainable retirement income that may need to last 20 years or more.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,135.05 +103.91 0.61%
S&P 500 1,999.42 +15.29 0.77%
NASDAQ 4,553.8170 +34.9150 0.77%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs