Life expectancies are on the rise and that means you need to save even more money for retirement. A 65-year-old female today is expected to live 86.6 years – and 84.3 years for males, according to the Social Security Administration. ‘People are concerned about the low interest rate environment and the low growth environment that we see today,’ said Tracie McMillion, head of global asset allocation strategy at Wells Fargo Investment Institute. ‘If you are already in retirement, you need to try to match up your assets with your lifestyle expectations.’ Those who are still working and not in retirement just yet may have to keep working. The average retirement age in the U.S. stands at 65 for men and 63 for women, according to the Center for Retirement Research at Boston College and the U.S. Census Bureau. Relying on bruised institutions like Social Security and Medicare isn’t enough. ‘Most people will not be able to live the lifestyle that they expect in retirement merely on Social Security payments,’ McMillion noted, MainStreet’s Scott Gamm has details from Wall Street.