Investors may need their money longer than they assume

Longevity presents a risk because the longer investors live, the greater their chance of outliving their assets during retirement. Today, there is a one-in-two chance that a 65-year-old man will survive until he is 85; for a woman, the odds are greater than one in two.

Retirement can last longer than you think. Will investors outlive their assets? The average 65-year-old man's life expectancy is 83.8 years, based on data released by Statistics Canada in 2013, and for a woman of the same age it is 86.7 years.

 

Probability that an average 65-year-old will live to...

Age Male Female
80 66% 77%
85 47% 61%
Source: Statistics Canada 2013