 Many people retire only to realize they don't have enough money saved to be comfortable in their post-working life. Knowing this, are you saving enough money today to be in a good financial position decades from now? If not, science shows that some information might help put you on the right track. A new pre-print published in Social Science Research Network shows that it might be possible to protect people from making poor financial decisions earlier in life by providing them objective longevity information. It is now well-accepted that income positively correlates with life expectancy. Poverty is a strong risk factor for all-cause mortality and the rich enjoy up to a decade more of disability-free life compared to the poor. In many cases, however, it is not simply about earnings, but how those earnings are allocated. Saving up a percentage of monthly income can make a big difference later in life. According to a study published in 2018, approximately 60% of older adults regret not having saved more during their working years. There could be many reasons why people choose not to save more money, including poor judgment about their expected longevity. In this new study, the researchers explored if accurate information about individual survival increases regret for under-saving earlier in life and therefore limits poor financial decision-making. The researchers conducted a survey of over 1,700 Americans over the age of 50 with an average age of 72.5. The participants were divided into three groups. One group, called T1, was asked what is the percent chance that you will live at least X more years. The T2 group was asked that same question, but then was also told the average number of remaining years for someone in their position. Groups T1 and T2, as well as a control group, were then asked do you think that what you saved was too little, about right, or too much, as well as a few other regret-related questions. The results showed that about 60% of respondents regretted not having saved more, 40% regretted not having bought long-term care insurance, about 40% regretted not working longer, and 10% regretted being financially dependent on others. The researchers showed that providing objective longevity information increases the participants financial regret. In other words, when people are told how much longer they are likely to live, they consider saving more money, buying insurance that makes sense for a longer lifespan, and making decisions to protect themselves against financial problems. On the other hand, no difference in terms of financial regret was shown between the control group and the T1 group. It is not enough to ask people about their perceived longevity. Instead, it is important to inform the public about their chances of surviving to old age. It is therefore of extreme importance that members of the general public consider their own longevity to help them avoid making financial mistakes earlier in life and secure lifelong financial stability. This only becomes more true in a world with considerably longer lifespans. So, how are you preparing to be financially secure with a longer lifespan? Let us know in the comments below. I'm your host Ryan O'Shea, and we'll see you next time on Lifespan News.