Wed, 5 June 2019
How long will you live is one of the trickiest questions in retirement planning. During the Longevity in Retirement series, we will take a look at this question and try and figure out if we can come up with an answer. Chances are it’s longer than you think! Learn how you can try and calculate your longevity, what other wild cards might factor into longevity, and discover some money misconceptions on this episode of Retirement Answer Man.
What are some common misconceptions about money in retirement?
There are plenty of misconceptions about money in retirement. Let’s jump in and find out what some of them are.
How long will you live?
This question is one of the oldest questions we have. But it becomes more important in retirement planning. You want to plan so that you won’t just survive retirement, but rock retirement. A person that has already reached the age of 65 is expected to live until 84. Surprisingly, the older you get your life expectancy actually increases. There are many factors that influence longevity. Of course, there are genetic factors, and everyone knows that women live longer. But did you know that prenatal and childhood conditions also have an impact on your longevity? Married people live longer. Socioeconomic status, education, ethnicity, and lifestyle choices are all considerations for calculating longevity.
What are some wild cards that may affect your longevity?
You may have heard that the human lifespan is getting longer. Right now the maximum human lifespan is 125 years, but where do the wild cards fit in? Science is continually coming up with new ways to extend our lives. How quickly will scientists extend the human lifespan and how long will humans live in the future?
Gene therapy can knock out 2 genes that are affected by aging which can cause you to live longer. There are now rejuvenation technologies and artificial reconstruction. Scientists are trying to grow our own body parts so that we don’t have to get transplants. But until then there are already robotic replacement parts like artificial knees and hearts. Improvements in diagnostics help doctors detect diseases early. How long do you think you’ll live?
OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN
HOT TOPIC SEGMENT
PRACTICAL PLANNING SEGMENT
THE HAPPY LAB SEGMENT
TODAY’S SMART SPRINT SEGMENT
Resources Mentioned In This Episode
Roger’s YouTube Channel - Roger That
BOOK - Rock Retirement by Roger Whitney
Roger’s Retirement Learning Center