It’s possible to live to 100. It’s already happening to a very small but increasing number of centenarians. However, in Australia there’s a decline in the wellbeing of people in their 90’s over recent years so currently living to 100 seems not any more likely.
For a good insight into what is required to raise average community survival age to 100, read The 100 Year Life by Scott and Gratton. It’s a wakeup call for societies and individuals.
At a conference for financial planners, Scott explained why a longer and healthier life is possible for many more people. He also examined some the likely impacts on our society if it comes about, including the implications for a longer working life to fund the increased costs.
Financial planners are an essential component in helping us to manage our future. But they are also challenged by our increasingly complex world, showing up in less time for clients as they focus on upgrading their practices and seeking efficiencies to contain costs.
At My Longevity we strongly believe Australia will benefit from establishing a National Longevity Strategy. You can read more about this at nationallongevitystrategy.au.
What Can I Do?
The important personal issue is - how can I manage my own future to make the best of it? The first step is to understand myself (and my partner) better to frame our actions and outcomes.
Starting with ‘time’ is a good choice. We all easily 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.
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 then better placed to seek advice on more specialised issues like health, finances, and estate planning.
Longevity planning helps you understand your own potential time frame, its stages and what you can do about it. It’s the best way to begin and manage your remaining time. It helps 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.
Will I Live to 100?
Many of us will not live to 100. But if our community actively improves its longevity awareness, it’s increasingly likely that grandchildren and young relatives could. 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 – for ourselves and for the world we leave behind!
We are constantly looking for better ways to provide longevity planning services to support you. We look forward to sharing our insights with you as a subscriber.
