Longevity Risk & Retirement – What’s the chances of living to 100? Baby boomers may become the generation that could spend longer in retirement than they did working. We are in danger of longevity risk & retirement being so long we will run out of money.
It’s time to make a difference in our own lives. Our retirement can last 20, 30 years or even longer. The number of octogenarians in this world, those reaching 80-89 years of age, is now the norm. The chances of becoming anonagenarian, those reaching 90-99 years of age, is on the cards. Life expectancy is increasing across the world, and the world population has also increased rapidly, the number of Centenarians is expected to increase quickly in the future.
These terms are associated with longevity. Older Australians are generally living longer and healthier lives than those in previous generations. Life expectancy is increasing both at birth and over the course of a person’s life, as most of the Western world enjoy greater standards of living and better access to high-quality health care.
What do you think you will have to look forward to? What will you be able to get up to? Baby boomers may become the generation that could spend longer in retirement than they did working. What do you think of that situation? There is a large and growing group of older people who are generally well, living independently and actively participating in society and the economy.
What if you could have a “number” for your possible longevity to work towards? How better could your planning be if you knew that age you could look forward to living? I found a useful website where you will receive an estimate of your longevity called MyLongevity.
Estimate of your Longevity:-
On it they have a SHAPE Analyser test to take. Their aim is to make reputable and useful information about longevity available to you. The SHAPE Analyser is designed to help you understand your own longevity and what could influence it. I took the test and am pleased to see that SHAPE Analyser estimates my remaining life expectancy is 30 years, resulting in a total life expectancy of 94 years. Take the SHAPE Analyser test here.
The thing is it also gives me an indication of what are the major influences in my life that could extend it. Do I want to live beyond 94? Well maybe, if I was fit and healthy. That is my challenge. As being fit and healthy is one of the cornerstones to a long life. Other factors include do I smoke, how much alcohol do I drink, do I lead a stressful life, am I overweight, do I like where I live, do I have a pet, do I live on my own, etc.
Living to 94 is great news right? You bet, I will be around long enough to see my children mature and my enjoy seeing grandchildren grow up. But it also means I have another 30 years to live, to fill in. How can I best use the next 30 years of my life? I believe that when we retire we have an opportunity to become influencers in our communities. We have officially entered that stage in our lives when we can pass on our knowledge, we can choose to do what we want to do not what we have it to do.
Knowing what to do with the rest of our lives and how to influence it is now more important than ever. We don’t all end up rich but that should not stop you from having an interesting and meaningful time in our golden years.Learning new skills and passing on our knowledge is one of the opportunities we have in retirement.
If you could extend the length of your life by making a few simple changes to your routine would you make them?
1:20 Longevity quotes
4:25 Looking forward
6:00 Plan for your future
7:54 Shape Analyser test
10:15 How to add years to your life
14:00 Time to make a differnece
16:35 Motivate yourself
17:30 Right to be happy at any age
18:45 Change
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