Host: How long should I plan on needing money during retirement?

David Marotta: It used to be typical for someone to retire at age 65 and they were dead by 72 and the plan on seven years of retirement was very, very easy.

That’s not the case anymore, retirement has become much longer so we recommend that you plan on a retirement until age 100. Most people say I don’t know that many people that are age 100 but especially if you’re a husband and wife together the heirs of one of you living older than 95 is very, very good.

The other thing is if you plan on running out of money at age 95 what do you do at age 95 if you actually live to age 96 or 97 and so even as you’re part of a hundred you need to plan on what are you going to do at age 100 if you live to a 101.So we like to plan on people having long and healthy life spans.

The other thing we found is if you don’t smoke and you don’t drink and you’re fairly well off in terms of your finances your odds of living to a 100 are much, much better especially with advances in medical coverage these days.