1. You May Live a Long Time
It's widely known that people are living longer than they used to, but what exactly does that mean to you? Assume that a couple makes it to age 65 together. Statistically they have an eighty five percent chance that at least one of them will live another twenty years.
Studies have shown that the average joint life expectancy is age ninety two (half will live longer). This means that your money will need to last a long time.
Small mistakes early on can compound and become large mistakes over many years.