Robert Browning once wrote, “Grow old along with me! The best is yet to be.” Today, the average life expectancy in America is 81 for women and 76 for men. But those are averages. The reality is that some people will die earlier and others will live much longer. Those who live longer are not always inclined to celebrate their extended life expectancy. As they grow older, they face daily challenges, such as changes in appetite and sleeping patterns, declining health, reduced mobility, increased isolation, depression and the loss of friends, not to mention dwindling finances.
Consider these facts:
- Today, the average retiree has only $42,000 in savings
- Women retire with 66 percent of the retirement savings of men, live on average six years longer and have greater medical expenses
- 80 percent of women are single during their later years of life
- 80 percent of older adults suffer from at least one chronic condition and 50 percent have at least two
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