According to the Centers for Disease Control and Prevention (CDC), U.S. life expectancy is now 76.1 years. Interestingly, however, if a woman makes it to age 70, her life expectancy increases to 87.6 years. The life expectancy of a man who reaches age 70, increases to 84.1 years.

With the normal retirement age for Social Security now capped at 67, many individuals may be concerned about outliving their income. This is especially so given the high cost of health care over and above what Medicare provides. Fortunately, tax laws provide some ways to address the concerns of living to old age.

Social Security Benefits

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