Retirees hit by "longevity risk"
 

  MIAMI (Reuters) - Like many other elderly Americans, Edie Stark has been hard hit by the meltdown in U.S. financial markets. She is 84 and has been worried a lot lately about outliving her savings.
A retired nurse, Stark is a prime example of what financial planners coldly call "longevity risk," a reference to the need for a secure income and lasting savings at a time when growing numbers of Americans can live for 30 years in retirement.
Stark said she and her husband had seen more than 50 percent of their retirement assets wiped out since the stock market started tanking several months ago.
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