In a recent edition of The National Geographic there was an interesting article on how long we will live for in the future. Currently, the average life expectancy for Australia, USA and the UK is 75 – 83.
The article tells us that each of us have a 50:50 chance of living to be 100 years of age. To put this into perspective in 2010 in the USA there was 53,300 people that were aged 100+, in 2050 that number will grow almost 12 fold to 601,000 people.
If you and I are going to live to past 100, it is a long time to live without the joy of following your dreams. I don’t know about you but if I am going to live longer, then I want to make sure I am pursuing my dreams, goals and passions. There is an old saying: ‘you are a long time dead’. Perhaps it should be ‘you are a long time alive – if you don’t have a dream, goal and passion to pursue’.
The next question is will our financial position be capable of sustaining us for this long. If we do live that long, do we have the means to continue living our dreams. More than ever before there is a real need for us to build our assets and our incomes to pay for a much longer retirement than previous generations. Are you doing enough?