Episode 29 - YOUR Life Expectancy is NOT 78.7 years!

Social Security claiming decisions would be soooo flippin' easy if we only knew when we were going to die. But guess what? We don't. So, we have to make some basic assumptions of our life expectancy. Thankfully, the good folks at the Social Security Administration provide us a nice chart to use. https://www.ssa.gov/oact/STATS/table4c6.html Unfortunately, most people don't look at that life table. They simply will hear "The new average life expectancy for Americans is 78.7 years". The problem with this number is that it's not true...for you. It's true for a new born bouncing baby today. But not for anyone who is listening to this podcast or certainly someone who is considering taking Social Security!