Why does the CareScout study say many retirees could outlive their savings?

Answer:

The CareScout Analytics study projects that retirees in 41 states and Washington, D.C., may not have enough retirement income and savings to cover expected lifetime expenses. Researchers considered Social Security benefits, retirement savings, housing, taxes, healthcare, and long-term care costs. The study estimated an average retirement funding gap of about $109,000, although the actual amount varies significantly by state and by individual financial circumstances.