Live long and prosper? Here, five tips for making your money last as long as you do.
According to a recent study prepared by Canada's chief actuary Jean-Claude Ménard, an average 65-year-old man can expect to live to age 84 while a woman's life will be around three years longer. That's two years more than a decade ago, largely because of improvements in the treatment of heart disease.
Those are averages. Many people will live much longer.
As we grow older, the main concern of most Canadians is health, but money runs a close second. Some quip that they intend to die on the day their money runs out. In the real world, things don't happen that way. What if there's no more money and you live another month, another year, another five years?
No one wants to experience that scenario, so click through for my suggestions for ensuring your money lasts longer than you do, no matter how long you're around.
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