When planning for retirement, many people underestimate just how long they'll live.

That's the assessment from Michael Hanson, SVP, Research at Fisher Investments.

"People really don't plan long enough for how long that they'll live and most people really underestimate that," he said. "Particularly for the Baby Boomer generation, there are folks who are going to live a lot longer than they think and if they don't plan for that, there can be a lot of difficulty in their later years."


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This article was written by a staff member of TheStreet.