We make the generalisation on a regular basis that people underestimate their life expectancy.
We sometimes say that people significantly underestimate their life expectancy.
Is this correct or a misapprehension on our part?
I thought I would test this our because it is particularly relevant in light of the fact that from next April we will be able to access the whole of our pension plan fund in one go (if we choose to).
So if you take the whole of your pension plan as a lump sum how long will it have to last you?
If you are a 65 year old;
What are the chances of you making it to;
- Age 85?
- Age 95?
Make a note of your answer to this question and I will share the answers tomorrow.
