ChooseFI · Monday, September 14, 2026
Aubrey Williams explains that the common practice of planning retirement to age 95 stems from a fear of running out of money, which is a valid concern. However, this conservatism can lead to unintended consequences like saving too much, working too long, or not enjoying retirement spending when younger and healthier.
“And so if we're concerned about longevity as in living longer and running out of money, it makes sense that we would pick an old age and make sure that the consequence of that isn't running out. But it completely ignores the opposite risk.”
“And it's exactly what you're pointing at, that we live a shorter life and either we've saved too much, worked too long, or spent too little when we were younger, when our spouse or partner or kids were there to enjoy it with us.”
“So, it means that many people are likely over-saving. They're working longer than they need to, or they're spending less than they could, because they're planning for a lifespan that's significantly longer than their average life expectancy. And this can have a real impact on their quality of life, both now and in retirement.”