Americans 'to Retire Past 80': What's the US Life Expectancy?

American Retirement Age Perceived as 80

As the US economy continues to stagnate, those who still have jobs are getting used to the idea that they will have to support their children for much longer than they had hoped, and work longer in order to afford retirement.

According to a Wells Fargo survey of 1,500 middle-class Americans, 25% of those questioned believed that they'd have to work into their 80s in order to comfortably retire.

Well, we have a bit of a problem. See, Americans, on average, do not live to see 80.

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What is the US Life Expectancy?

So, how long do Americans live? The US life expectancy is 79.4 years. For 2011, the CIA Factbook has us living shorter lives, with a life expectancy of 78.37 years.

Those are not necessarily healthy years, either, and Wells Fargo's respondents consistently underestimated the cost of healthcare. Those surveyed were thinking $60,000 for uninsured healthcare costs for a married couple 65+. The reality: $197,000.

• Life Expectancy: Interactive Graph

Indeed, only 15 countries (the US is not one of them) have an average life expectancy over 80. The USA is still above the global average, which is just over 69 years.

What About the American Dream?

So, what does this mean for the American Dream? If you're entering the workforce, what are your prospects, presuming you can find a job, for making a wage with which you can start saving for your eventual retirement? And, yes, you have to start saving ASAP, though 69% of those surveyed by Wells Fargo had no written financial plan.

If you want to take a litmus test for modern Americans' relationship with the concept of the American Dream, drop by Zuccotti Park and ask somebody.