Do You Suffer From A Longevity Disconnect? by BPT - City News Group, Inc.
View Upcoming Events View Your Local Sales

Community Calendar

◄ OCTOBER ►
S M T W T F S
27 28 29 30 01 02 03
04 05 06 07 08 09 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31
View Events
Submit Events

Do You Suffer From A Longevity Disconnect?

By BPT, Community Writer
June 1, 2016 at 12:37pm. Views: 36

They say that age is just a number. For the 10,000 who reach retirement age every day, however, that number may come with a multitude of questions about whether they have done enough to prepare for retirement. The good news is that Americans today are living longer than previous generations. But too many of us don't realize that this boost in lifespan means we need to fund a retirement that could last for 20 or 30 years. This is what's known as the longevity disconnect. Calculating how much you need to save for retirement is even more difficult if you don't realize how long retirement can be. What concerns Americans the most? One of the biggest worries Americans have when it comes to retirement is outliving their money, according to a plan participant survey by Prudential Retirement. A substantial 71 percent of survey respondents fear they may not have sufficient income for their retirement years. Only one in five are highly confident they will have enough to last a lifetime. "Today we have more financial information, education and planning tools available to us than ever before," says Christine Marcks, president of Prudential Retirement. "But despite the steady drumbeat of headlines about retirement planning, we're still not getting it right." Why are people having a hard time saving for retirement? Why are they actually saving less when they need to save more? Blame our brains The answer to those questions may surprise you. Research shows the reason could lie in how our brains are wired to respond to the environment. Humans are conditioned to focus on survival in the here and now. Yet, our contemporary life demands that we plan for multiple scenarios and contingencies, often with effects that could shape our lives far into the future. Behavioral researchers have found that people actually perceive their future selves as strangers, and many find it difficult to understand the financial needs that "stranger" will have in his or her lifetime. That's one reason why saving for many years ahead is difficult for us. This and further research from Prudential shows us there are five inherent behavioral biases that make us our own worst enemies when it comes to saving for retirement. - Not being aware of increasing life spans (longevity disconnect) - Putting off difficult or time-consuming tasks (procrastination) - Thinking that bad things only happen to other people (optimism bias) - Making decisions based on what other people are doing (herd mentality) - Putting today's wants ahead of tomorrow's needs (instant gratification) Smart planning For older Americans approaching retirement, the greatest advice comes from the people who know best: those already in retirement. Many retirees agree that, if they had to do it again, they would take advantage of everything available through their employers. Other advice includes maximizing contributions to your workplace-based retirement plan or IRA, and taking advantage of IRS-allowed catch-up contributions if you're 50 or older. Retirees also suggest that those approaching retirement assess all the ways they spend money today, and avoid impulse purchases or peer pressure. Careful planning now can help you to achieve your goals of a secure and fulfilling retirement and make it last a lifetime.

Related Articles

Photo Courtesy of: coltonca.gov

By Margie Miller, Publisher City News Group

October 28, 2026 at 06:00am. Views: 728

One of the most visible projects Navarro wants to advance is the city’s planned sports complex. He lists its development among his major accomplishments and says residents should evaluate another term partly by whether the city breaks ground and completes project phases. Read more about Mayor Frank Navarro...

Photo Courtesy of: Grand Terrace City Council

By Doug Wilson, Councilmember, Contributing Writer

October 28, 2026 at 06:05am. Views: 643

Councilman Doug Wilson, serving Grand Terrace since 2014 Speaks out about why he feels Grand Terrace residents deserve to know the facts about Measure “N,” the proposed one-percent sales tax initiative on the ballot this November 3rd.

Photo Courtesy of: The CARE Project inc.

By Carl M. Dameron, Contributing Writer

October 20, 2026 at 03:09pm. Views: 894

Photo caption: The CARE Project’s Vice President, Diana Jaurigue, with President & Founder Carrie Madrid, who is wearing the LympheDIVAS compression sleeve on her left arm. Donated compression garments help manage swelling and are essential to daily care for many breast cancer survivors.

Photo Courtesy of: Feeding America Riverside | San Bernardino

By Rachel Bonilla, Community Writer

October 27, 2026 at 02:37pm. Views: 375

Feeding America Riverside | San Bernardino (FARSB) has once again partnered with ALDI for their annual volunteer event, where team members packed over 1,300 food boxes with various shelf-stable items to be distributed for disaster relief as needed.

Photo Courtesy of: CIty News Group

By Ruby Stephenson, Community Writer

October 20, 2026 at 04:11pm. Views: 2100

An October 2026 study from Loma Linda University suggests a simple dietary change may influence inflammation-related measures in older adults. A bowl of walnuts sits alongside a nutritious breakfast, illustrating the everyday dietary choice examined in Loma Linda University research.

Photo Courtesy of: AI-generated by ChatGPT

By Stella Pierce, Community Writer

October 28, 2026 at 06:00am. Views: 555

Families enjoy a Halloween trunk-or-treat gathering with decorated vehicles, pumpkins and festive costumes. Grand Terrace has scheduled its 2026 Trunk or Treat celebration for October 31

Photo Courtesy of: coltonca.gov

By Margie Miller, Publisher City News Group

October 28, 2026 at 06:00am. Views: 822

Colton councilmember John Echevarria wants to expand his outreach to residents throughout the city, strengthen partnerships with county, state and federal officials, and build upon what he describes as a record of employee advocacy, neighborhood improvements and community involvement.Learn more about John Echevarria...

Photo Courtesy of: City News Group - AI Illustration

By Hattie Strong, Community Writer

October 27, 2026 at 02:38pm. Views: 355

Loma Linda University Children's Health Specialty Clinics, a new five-story, 105,000-square-foot facility designed to bring more than 21 pediatric specialties together. The facility is expected to begin serving patients in early 2027.This is an AI-generated illustration, not a verified photograph of the actual building.

Photo Courtesy of: https://wellri.com

By Stella Pierce, Community Writer

October 27, 2026 at 02:38pm. Views: 320

An October City announcement draws attention to an everyday household practice with benefits for food budgets, kitchen safety and the environment. A basket of fresh produce can represent a week's worth of meals, the results of a successful backyard harvest or an unexpected bargain at the grocery store. Yet without proper storage, even the freshest fruits and vegetables can spoil before a family has an opportunity to use them.

Photo Courtesy of: City News Group - AI Illustration

By Ruby Stephenson, Community Writer

October 27, 2026 at 02:38pm. Views: 534

An October announcement highlights how investigative technology and cooperation among law enforcement agencies can help solve crimes affecting Grand Terrace neighborhoods. For residents of Grand Terrace, home is more than an address. It is where families gather, children grow up and neighbors build relationships over many years. When a residential burglary occurs, the effects can extend beyond the property taken or damage caused. A crime inside someone's home can undermine the sense of security that makes a neighborhood feel safe.

Photo Courtesy of: City News Group - AI Illustration

By Amanda Spencer, Community Writer

October 27, 2026 at 02:38pm. Views: 326

The rumble of a commercial truck passing through a city can represent two very different things. For a business awaiting a delivery, it may signal the arrival of essential supplies. For residents living near a busy roadway, it may raise concerns about traffic, noise and safety. In Grand Terrace, finding a reasonable balance between those interests is at the center of an ongoing transportation planning effort.

Photo Courtesy of: City News Group

By Amanda Spencer, Community Writer

October 20, 2026 at 03:49pm. Views: 765

Secure drop box is located outside the Grand Terrace Library, on the west end of the Civic Center building at 22795 Barton Road. According to the City, it will remain accessible 24 hours a day, seven days a week, until 8 p.m. on Election Day, Tuesday, November 3. The San Bernardino County Registrar of Voters is responsible for operating the box, collecting ballots and transporting them for election processing.

--> -->