What if retiring at 65 means you only get five good years of retirement before your body start saying no?

What I'm referring to here is the difference between lifespan and health span.

And that's why I want to show you in today's video how waiting until full retirement age might cost you more than just time.

It might cost you some of the best years of your life.

So to illustrate that, that's clearly define both these terms I'm talking about. I'm talking about lifespan. I'm talking about health span. Your lifespan is how much more time do you have until you pass away? That is the number that so many of us think about. I'm going to retire in my 60s. I'm going to live until my 80s or 90s. That's your lifespan. But your health span is very different. Your health span is that number of years lived

in good physical and cognitive condition. Now, here's a stat to keep in mind. The average American

lives until age 77, but they only have a health span until age 66. Now, obviously, we're talking

about averages here, and averages are going to be different for everybody, but these are very important things to understand because they are going to relate in very specific ways to each of your individual retirements.

So as you start to look at our health span, health span defined as the period of life spent in good health, free from chronic disease and disabilities of aging.

Sure, the average American's lifespan is 77,

but the health span is 66. Why is that relevant to retirement? Retirement's all about money

and planning and preparing. Yes, what are we planning and preparing for, though? We're preparing

for the ability to have a healthy, a productive, a fulfilling, a purposeful retirement, it's

very difficult to do that when you no longer have your health. And one more point to consider

to really drive this home is when I talk about a life expectancy of age 77, that is what it

is for the U.S., but that's from birth. Meaning the day you're born, your average life expectancy

is 77. If you have already reached the age of 60, your average life expectancy is 77. If you have already reached the

age of 60, then your life expectancy is actually 84. Specifically, if you're a woman and you've

reached the age of 60, your life expectancy is 85. And if you're a man, your life expectancy is 82.

So beyond that 77 average that we're looking at, here's how this ties into your retirement plan.

If you've run a financial projection before, either on your own or with a financial advisor,

you've probably seen something that looks just like this.

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