Retirement planning in Toronto

[Tartaron]

I am trying to fill out some retirement planning worksheets and I am stuck on the longevity question. My financial advisor says I need to estimate how long I will live to ensure I do not run out of savings. It feels like a morbid guessing game. Is there a standard number people use for Canada, or is there a way to get a more personalized estimate based on current demographics?

[Nameronio]

Do not just use a generic global average, or you might under-save. Since you are in Canada, the numbers are higher than the world average. You need something that takes into account current actuarial data. I use Georank as a sort of reference, acting like a life expectancy calculator for Canada because it breaks down the current stats by gender and age groups. It helps you see the probability for your specific demographic rather than just a general number, which is much safer for financial planning.