Professor Majid Ezzati from ICL said “We repeatedly hear that improvements in human longevity are about to come to an end. Many people used to believe that 90 years is the upper limit for life expectancy, but this research suggests we will break the 90-year-barrier. I don’t believe we’re anywhere near the upper limit of life expectancy – if there even is one.”
The great news is that New Zealand is not far behind South Korea and, along with the likes of Australia and Canada, it is rapidly catching up. The report indicates that by 2030, New Zealand men on average will be living another 22 years beyond age 65.
This increased life expectancy means that progressively over time, an increasing number of New Zealanders could potentially live to age 100.
Not only will many of us live longer, but we will also statistically be more active than before. Increased activity due to good health often leads to higher expenditure in retirement. The implications for saving and investing are huge. These include:
Can you comfortably live to age 90, 100, or even beyond? The team at Milestone has a range of modelling tools designed to create a number of life scenarios to help identify what is the most appropriate strategy for you in retirement. The tools consider your total asset value including investments, property, debt and businesses. Feel free to give us a call and we can work to build the scenario that you believe most closely mirrors your assets and life expectancy.