Retirement: How to estimate the end point

How long will retirement last? It is an important question when helping clients ensure they have enough funds saved to enjoy their dream of Hawaiian shirts, mountain hikes, or sociable days on the fairway. And financial advisers need to improve their assumptions about how many years clients need their retirement funds to last, according to David Blanchett, Ph.D., head of retirement research for Morningstar’s Investment Management group.

“As an industry, there’s evidence that we’re not personalizing these estimates,” Blanchett said.