A simple perusal of statistics will tell advisors they should expect their retired women clients to live longer than men. According to reports issued by the U.S. Census, put together with statistics from the U.S. National Center for Health Statistics and National Vital Statistics Reports, an average woman in her 70s has 16 more years of life remaining and an average man, 13.7 years.
Given those differences in lifespan, advisors need to make sure their female retiree clients understand how to assess their well-placed concerns about longevity and outliving income-producing assets and then balance that against their tolerance for risk.
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