Imagine this: it’s your 100th birthday. Your kids are coming to your birthday party. Your eldest son is 73 and your ‘baby’ is turning 71. Their kids are well into thier 40s and their children are expecting their first child…..
Huh? Did you catch all that? Well, if you are good at math that’s four generations all at the same party — and it could happen. An article (the Grey Tsunami) in the latest issue of Investment Executive highlights the sharp increase in number of people living past 100 — with many of the issues that go with that. Disclosure: I was interviewed for this article and you will find a few quotes from yours truly.
The notion of living past 100 raises a lot of questions don’t you think?
How are you planning for this potential longevity?
Is your financial plan up to snuff for the long-haul?
Is your life plan taking into account that your so-called ‘retirement’ years could last another 35-40 years?
What assumptions need to be challenged? Keep in mind your kids will be in their 70’s so assuming they will be able to care for you may or may not be the case.
This all reminds me of a famous quote years ago from the late George Burns. He said (when he was in his 90’s): “If I’d known I was going to live this long I would have taken better care of myself”.
Well said. Here’s to taking care of yourself so you can live the good life well into your longevity. To your personal, professional and financial wellbeing.