A recent study conducted by the Government Accountability Office leaves many with mixed feelings. Some of the results show that if a couple is 65 years old today, there is a 47 percent chance that at least one partner will make it to their 90th birthday, and a 20 percent chance that they will reach 95, according to Forbes Magazine.
These figures can be both exciting and frightening for the seniors who will be entering retirement soon. Older Americans are excited to live a long life but fearful that their retirement living expenses will run dry. The GAO released some tips for prospective retirees, along with the findings of their study, for the seniors who are entering their golden years. The organization suggests that retirees withdraw 3 to 6 percent of investment values in the first year. Also, wait before collecting Social Security so they can receive the most out of their retirement funds, the news source reports.
According to USA Today, the recession startled a lot of baby boomers, who are just on the brink of retirement.