As you've no doubt heard, Walter Cronkite passed away last week at the age of 92. By nearly every account, he was an American icon, albeit one that faded from the limelight in the years following his retirement.
What's the retirement planning lesson here? Although Cronkite may no longer have been at the forefront of our minds (and I'll give away my youth by admitting I never watched him on television), he lived an entire generation in retirement. That's a long time.
For those with good health, it's a heck of a run.
If you retire at age 65, living until 92 means living without a paycheck for 27 years, as long as it takes to get from age 38 to 65! So the question you might consider asking yourself isn't "Might I live as long as Walter Cronkite" but rather "Could I afford to live as long as Cronkite?
What's the retirement planning lesson here? Although Cronkite may no longer have been at the forefront of our minds (and I'll give away my youth by admitting I never watched him on television), he lived an entire generation in retirement. That's a long time.
For those with good health, it's a heck of a run.
If you retire at age 65, living until 92 means living without a paycheck for 27 years, as long as it takes to get from age 38 to 65! So the question you might consider asking yourself isn't "Might I live as long as Walter Cronkite" but rather "Could I afford to live as long as Cronkite?
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