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An unrecognized barrier to retirement income security: poor longevity literacy
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Longevity literacy is an understanding of how long people tend to live upon reaching retirement age. It is particularly important since retirement income security requires planning, saving, and preparing for a period that is uncertain in length.

This matters because longevity literacy is associated with retirement readiness.
• Workers with strong longevity literacy tend to be more confident they will have enough money to live comfortably throughout retirement—69% are very or somewhat confident compared with 53% of workers with weak longevity literacy. They are also more likely to have figured out how much they need to save for retirement (50%); and a larger share actually saves for retirement on a regular basis (72%) compared to those with weak longevity literacy (32% and 58%, respectively).
• Retirees with strong longevity literacy are more likely to report that their current lifestyle meets or exceeds their preretirement expectations (77%) and are confident they have enough money to live comfortably throughout their retirement years (82%). The analogous figures among retirees with weak longevity literacy are 62% and 69%, respectively.

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