socialmedian: Living to 100: Financial planning for a longer lifespan

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Living to 100: Financial planning for a longer lifespan

Source: WalletPop Blog

Oct 20, 2009

Summary

Filed under: Budgets, Retire, Health, Relationships, Special Reports

Medical journal The Lancet reported a story that's been widely covered by major news outlets: According to The Lancet, more than half of all babies born in the U.S. (and other industrialized countries) since 2000 will live to be 100 years old.

Once a milestone only a handful of seniors reached, this new triple-digit benchmark will become downright commonplace by the time this century winds to a close. Half of all babies born in this country in 2007 will live to be 104 years old.

While the novelty factor is high ("Grandpa, tell us again how there was only one channel of the Internet when you were growing up!"), this announcement has far more serious implications for today's Americans -- both young and old -- when it comes to managing their personal finances. The Lancet study's lead author called the news good for individuals but challenging for societies.

First, a bit of history: While improvements in lifespans over the first half of this century were largely due to decreased infant mortality, ...Read the full article

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