It’s possible to live to 100. But for most of us, a more useful question is – can I really manage my future to make the best of it?
Living to 100 was the first presentation at the first national gathering of financial planners since before the pandemic. A London-based academic (Professor Andrew Scott) explained the reasons why it a longer and healthier life is possible for a lot more people. He also examined some the likely impacts on our society if it comes about.
The entire conference was about how the future may evolve and what financial planners can do to help us make the best of it. I was reminded how important financial planners are in helping us individually manage our future in a complex world.
There were several futurists at the conference. Their themes were debated in smaller group meetings of planners focusing on how to manage the potential challenges and opportunities of a rapidly changing world to support their clients and practices.
The two days closed with Ash Barty’s mentor and mindset coach Ben Crowe reminding us that best personal outcomes often reflect how we answer three questions:
Who am I? What do I want? How do I get there?
These have a common theme – understanding ourselves underpins better actions and outcomes.
When it comes making the best of our longevity – the rest of our life – it’s hard to know just where to start. ‘Time’ is a good choice because we all speak and understand ‘time’ – it’s one of the most common concepts (and words) we use throughout our lives. Time is part of planning almost every journey we take.
By starting with a focus on your ‘time’, why it’s likely to be different from others, and what you can do to influence your time outcome, you are better placed to seek advice on more specialised issues like health, finances, and estate planning. Longevity planning is emerging as the best way to begin conversations about your future.
Next Steps
Longevity planning helps you frame and co-ordinate conversations with your life partner, all your advisers, and your wider family. It’s not a ‘set and forget’ process: as things change you can review their impact on your longevity plan and with further advice re-tune your approach to your future.
Although many of us will not live to 100, it's increasingly likely quite a few of our grandchildren and young relatives will. As well as encouraging them to believe it’s possible, we can also show them how we approach the challenges (and opportunities) of increasing longevity by planning for it.
We are constantly looking for better ways to provide longevity planning services that underpin your properly informed decisions about your future. You will soon hear about the next steps we are finalising in supporting you on your journey.
