The new magic buzz word is 30 years. The insurance companies are reminding us that we live longer now, and the middle aged workers who are looking to retire at 65 are going to live until 80 most likely.
Imagine that you are a couple in your 50s, you have alll the children grown and launched on their careers and matrimonial lives, your house has quite a bit of equity, and the jobs are paying well including health insurance.
What should your investments be to prepare for a long life, and good health in your really old age? Like 85-90?
If you make around $100 K a year between you, and save ten percent, that would be a nice little nest egg besides any Social Security and pension plans.
Or maybe you would like to work until you are 67 and take Social Security later?
There is also the possibility to work part time, travel a bit and visit your far flung family members.
What people forget is that without a job to get up for everyday, life becomes a bore, you develope aches and pains and complaints. Once the challenge is gone, those extra 30 years are not so magical at all.