Retirement planning must take into account life expectancy, which can have a greater impact on the longevity of retirement savings than even record high inflation.
Longevity literacy is important for older adults to have a good understanding of the factors that affect how long they may live and to make informed decisions about their retirement planning.
Overall, it's important to plan ahead and save as much as possible in order to be prepared for the financial realities of retirement. This may include working with a financial advisor to develop a retirement plan that takes into account your specific needs and goals.