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Most Americans don't understand average lifespan of retirees when planning for retirement
(finance.yahoo.com)
this post was submitted on 26 Aug 2023
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One thing nobody points out is that those last 5+ years of your life, your health will probably be failing, physically and maybe mentally. If someone has to take over your finances and they aren't financially literate, your money will run out a lot sooner.
I'm not talking about someone stealing your money(which does happen), but someone who means well, but just makes bad decisions. There's no easy fix for it, but a living will helps.