Do you remember when you were a kid and were fascinated by the thought of living to be 100? It seemed like such a far-fetched idea, but now with advances in technology, nutrition, and medicine, this far-flung notion increasingly seems like a real possibility.
As you may have guessed, today’s retirement headline discusses planning to live until age 100. We’ll explore what that prospect means for your retirement income, goals, and health. Share this episode with a friend so you can discuss it together!
Outline of This Episode
- [2:42] What if you live to 100?
- [12:40] How to get beyond the accumulation mindset
Should you plan to live until 100?
The decision to plan for retirement with the assumption of living to the age of 100 might seem radical to some, but it’s a reflection of changing perspectives on aging, longevity, and financial readiness.
One of the underlying shifts in our contemporary society is the evolving perception of aging. In the past, reaching the age of 100 was a rarity, and individuals often didn’t anticipate living such long lives. Today, however, thanks to advances in technology, healthcare, nutrition, and lifestyle choices, many people are enjoying extended lifespans. As a result, planning for retirement beyond the traditional retirement age has become more relevant.
Don’t be a burden on your loved ones
One of the primary motivators behind extended retirement planning is the desire to maintain financial independence and avoid burdening family. Relying on family members for financial support can strain relationships and compromise the financial stability of the next generation. By planning ahead, you can aim to secure your financial well-being and ensure that your family can focus on their own needs and aspirations.
While you may be committed to financial independence, you’ll also need to be realistic about the potential need for some level of support in your later years. This support could include assistance with healthcare, managing daily tasks, and financial matters. The good news is that technology can increasingly support the elderly as they age. There are fantastic new ideas coming to the forefront of the marketplace that can increase the time elderly folks can stay independent.
Get your bucket list ready for retirement
Living longer can mean the opportunity to live an even more fulfilling life. If you have the idea that retirement isn’t simply about relaxation, but an opportunity for continued personal growth, you’ll be able to make a positive impact on the world while pursuing your passions. What are you planning to retire to?
Planning your retirement accordingly can ensure that you won’t run out of money–even if you live until 100–and you won’t die with regrets. Listen in to hear how important it is to keep up your health and wellness so that you won’t be suffering mentally and physically even if you live 100 years.
Resources & People Mentioned
- Forbes article on aging
- Check out the free Easily Avoidable Medicare Mistakes download from Boomer Benefits
- Medicare Q&A Boomer Benefits Facebook group
Connect with Benjamin Brandt
- Get the Retire-Ready Toolkit: https://retirementstartstodayradio.com/
- Follow Ben on Twitter: https://twitter.com/retiremeasap
- Join the newsletter: https://retirementstartstodayradio.com/newsletter
- Dive deeper into retirement planning with Ben at www.RetirementIncome.University
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