While 2020 was a ‘survival’ year, it’s timely to get things back on track.
In investing, a short-term focus on identifying
and reacting to each situation creates
significant extra pressures – enjoyable (and
maybe rewarding) for some, but stressful for
Successful ageing relies on a more strategic
approach. The last decade has resulted in more
reliable information about ageing. This has not
yet changed major deficiencies in aged care
and health services, but we already have a
better ability to plan for our own future.
Your Planning Context
One of the most useful developments has been
a better understanding of the stages of the rest
of our life. You get this information every time
you use the SHAPE Analyser.
A sample outcome at age 65 looks like this:
|Less Able Years
|Estimated Life Span
The blue answers provide a personal planning
framework for the rest of your life.
For immediate action, you can refer to the
orange answers that come with your SHAPE
results – typically prompting a discussion with
your health advisers about what might improve
your ability to enjoy and even prolong your
remaining longevity. The next step is to look
further ahead. What might be the best place to
The current quality of aged care is very likely to
hit the headlines more frequently as the older
population grows. You can do a lot to influence
the effect on you and be less dependent on
others for best responses.
Aged care is likely to become a priority towards
the end of your Less Able period – for this
example, say about 15 years. Why start now,
you might think?
Your need for aged care (and the type you
require) is likely to be a consequence of how
well you have made the best of all the
information we now have about ageing,
and apply this until more support is needed
This includes your health outlook, how suitable
where you live now might be, what kind of
family or other support you might have and
how close you might be to your eventual
guardian and power of attorney. Most
importantly, by starting now you are likely to
be less anxious and much happier for a long
time instead of worrying about it!
All these factors and much more is covered in
your personal Longevity Plan – so having one in
place is the first step.
When it comes to making decisions, we often
need to make trade-offs – between two or
more things. A clear perspective on your own
situation with a Longevity Plan gives you the
best chance of getting good outcomes.