]Of course, for individuals, the prospect of a long life is great news. But it does raise a major question: Will people have enough resources to live comfortably all those years or will they outlive their money? Most people react to the possibility of a longer life span by stepping up their saving, hoping to put away enough money to cover any eventuality. But the total size of your nest egg can be misleading. As I’ll explain, it’s more useful to think in terms of the annual income your savings will generate. That makes it easier to figure whether you’ll have the means to pay the costs of a long lifetime.

What it’s like to prepare for retirement

We recently spoke with couples nearing retirement age in the United States and five other countries. Each country is different in how retirement is financed and every couple’s circumstances are unique. Yet, we found remarkable similarities in the sorts of things they hope for, what they worry about and the way they think about the next stage of their lives.