I read a story on the NBCNews.com website of a 123-year-old man living in Bolivia. Officials are still trying to verify his age, as he’d set a new World’s Record for oldest living human at the age of 123. However, even if the man is off by 10 years, that’s an incredibly long life span!

Of course, this got me thinking, “What if I live 40+ years past the age of retirement? Could my funds stretch that far?” I’m pretty sure that I’d run out of money around the age of 85 or 90 even if I lived a frugal life-style. Heck, I’d be lucky if I lived comfortably for that long on a meager retirement savings.

Seriously though, if people began living to 120, that’s 55 years after the traditional retirement age of 65. For most people, they’d live more years in retirement than they did working. One man living to 123 isn’t the norm, obviously, so I’m sure most of us can rest- assured we won’t live nearly that long. Yet, even living to 85 or 90, which is much more reasonable, begs the question, “Will retirement funds hold out?”

According to a post by Retire By 40, most people barely have enough to retire on as it is let alone lasting them 25 or more years. The stats are shockingly dismal, but if there’s even a half-truth in them it means most people will out-live their retirement well before their demise.

As I’m a solution-seeker and prefer not to harp on a problem for too long, I’d like to offer some possible solutions:

Before retirement:

  • Save more during your working years. A no-brainer, I know. Since a longer end-date is in mind for a date of departure from the planet earth, perhaps that will motivate people to save more and more often.
  • Work longer. This is something that’s already happening. People are working past the golden retirement age of 65 and into their early 70’s.
  • Create passive income streams before retirement. This might be in the form of a low-maintenance side gig, rental property, peer-to-peer lending (I’m borrowing this from Joe at RB40), or investments.
  • Reduce your living expenses. I think this is a difficult one, especially if you’ve gotten used to a certain lifestyle. If this is a mandatory option to stretch those funds, I’d advise doing this a few years before retirement to get used to the new lifestyle.
  • Live a healthy lifestyle. Exercise, eat right, don’t smoke, and limit alcohol. Medical expenses are one reason seniors struggle with money.

After/during retirement:

  • Take on part-time work. If working longer in your full-time position just isn’t possible, perhaps taking on a part-time job will fill in the gaps of income.
  • Double up. If you have kids, maybe they’d be open to letting you bunk with them if you get along well. However, for those without children, perhaps a sibling would make a great roommate. The bottom line is sharing expenses with someone else, especially if you anticipate your spouse dying before you – not a happy thought, I know – , could ease the financial burden.
  • Reduce expenses. I’m repeating myself, but since this is easier said than done, doing this before and after retirement makes sense.

And just to beat a dead horse, take a look at this infographic from TheWeek.com:

Are you well prepared or preparing for retirement?


  1. Thanks for the link! I don’t know if I’d want to live to be 125… If I’m healthy and can still get around, then it’d probably be OK. If I’m an invalid at 125, then there is no point living that long…
    I’ll probably work part time well into my 70s. I think keeping busy makes you feel more useful and active.

    • @Joe – I’m not so sure I’d want to live to 120+. I think the cons outweigh the pros in that case! Especially if money is running low and medical expenses are running high. 😉

  2. Your ideas of before and after retirement are really great. Creating passive income and reducing your living expenses definitely helps you after retirement.

    • @Rita – Thanks, Rita. I know that I’ll have to do some of these things as I near retirement and make sure I have multiple streams of income coming in during retirement.

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