With the unstable market and low interest rates, the average retirement age of individuals undoubtedly will increase. The key question is really the extent of this increase. According to Robert Benmosche, chairman of American International Group (AIG), the ages will have to be 70 to 80 years old in order to make pensions and medical services more affordable.
Considering that this is over a decade longer than historic averages, his commend has certainly raised some eyebrows across. Only time will tell if his prediction is correct, but we at least hope that you are frequently assessing your retirement plan and making adjustment as needed. Given the volatile market and low interest rates, it is more important than ever to diligently plan your financial future.