A few notes about the calculator:
The life expectancy age beside year 1801 is how long you would have lived on average if it was 1801 today.
- The correct term for this calculator is average age at death, not mortality calculator and not life expectancy calculator. Yes, we know that. Yes, we’ve renamed it to something a bit less gruesome. We’re glass half full types and prefer to think of it as how long we’re going to live rather than how soon we’re likely to die.
- The ages shown are the average. That means that at the age shown, 50% of people your age would have died, and 50% would still be alive.
- Notice that in 1801 you’d have been wise to spend your money as fast as you could make it – no point saving for a leisurely retirement, you’d be dead long before you had to worry about that. Today, have a look at your life expectancy using 2005 mortality tables and note that not only are you on average going to live that long, but you’ve got a 50% chance of living well past that age. Will you have enough money saved to last you through that long of a retirement? A sobering thought.
Note: we have developed this calculator with the assistance of the helpful actuary who also provided the calculations for the life expectancy spreadsheet that is provided for free download by the Society of Actuaries. This calculator is designed to match that spreadsheet.