The Data on Longer Lives

Published July 12, 2017
The average human lifespan is increasing, but what does that really mean? We’ve compiled a list of the most significant facts on longevity.

Research on longevity undeniably shows that we’re living longer. Here are 8 facts on growing older that you may not have known before:

  • Life expectancy for a baby born in the US in 2013 is about 78 years.
  • Life expectancy for a baby born in the US in 1950 was 68 years — that’s a 10 year increase in 60 years!
  • Life expectancy at age 65 in 2014 for a man is 87, and for a woman was 89.
  • Life expectancy at age 65 in 1950 for both men and women was 79 — that’s also a 10 year increase in 60 years.
  • The number of centenarians is growing; there’s been a 66% increase from 1980 to 2010, when 53,364 people were aged over 100 in the US.
  • In 2013, 45% of households between 50 to 59 were at risk of failing to meet their targeted income replacement needs in retirement.
  • The average out of pocket medical costs for a 65 year old couple is $218,000 over 20 years.
  • Healthcare expenses are expected to rise by 5.8% per year through 2022.

Longer retirements are an opportunity to pursue more hobbies and live a fulfilling life, but it does require more financial planning to make sure you can enjoy the life you desire.

 

Nimish Shukla

Nimish Shukla

Financial Planning Professional

Nimish has spoken with thousands of customers about retirement spending. As a CFA Charterholder and licensed fixed annuity producer he values the importance of building an income stream for retirement. In addition to his work at Blueprint Income he is also a regular contributor to Nerdwallet.