New York - First, you were supposed to die at 85. Then 90. Now 95 and even 100 are common defaults when financial planners tell people how much to save for retirement.

Except that’s nuts.

In the U.S., the typical man at age 65 is expected to live another 18 years. The typical woman, about 20. Yet many financial planners contend we should save as if we’re all going to be centenarians.

That notion so offends adviser Carolyn McClanahan that she confronted a speaker at a financial planning conference who contended that death at 100 should be the default assumption.... Read More: VIN