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The Keys to Longevity |
Did you know that when a healthy woman reaches age 65, her life expectancy actually gets longer? Yes, her life expectancy is to age 86 per Stanford Center for Longevity.
So you ask why is a professional focused in financial services writing about longevity? Generally speaking, both men and women, are living longer. I am genuinely concerned for all, as with each passing day, retirement is a bit closer. It used to be that retirement was a short period of time. A couple generations ago, people would retire at age 60 and pass on just a few short years later. Retirement savings did not have to last for what seems today, another lifetime. This is magnified for women. I am concerned that women, and their spouses, fail to understand that their planning needs are different.
Statistics show that we: outlive our guys, make less over our lifetimes, thereby saving less, are primary caretakers often at the expense of our own mental and physical health and due to longevity, have higher medical costs for a longer period in our later years, and will most likely require some sort of long term care. Many of the women that I work with today are woefully underfunded for their future obligations and that troubles me.
So what is the solution? Ladies, start to take action early and recognize that research shows that education, exercise, nutritional habits, financial decisions, and social choices early in life have substantial implications for quality of life at advanced ages. Understand that longevity has three primary components that are highly interdependent on each other, in that outcomes, positive or negative, impacts the other and that just a few simple actions can make a huge impact.
So you ask why is a professional focused in financial services writing about longevity? Generally speaking, both men and women, are living longer. I am genuinely concerned for all, as with each passing day, retirement is a bit closer. It used to be that retirement was a short period of time. A couple generations ago, people would retire at age 60 and pass on just a few short years later. Retirement savings did not have to last for what seems today, another lifetime. This is magnified for women. I am concerned that women, and their spouses, fail to understand that their planning needs are different.
Statistics show that we: outlive our guys, make less over our lifetimes, thereby saving less, are primary caretakers often at the expense of our own mental and physical health and due to longevity, have higher medical costs for a longer period in our later years, and will most likely require some sort of long term care. Many of the women that I work with today are woefully underfunded for their future obligations and that troubles me.
So what is the solution? Ladies, start to take action early and recognize that research shows that education, exercise, nutritional habits, financial decisions, and social choices early in life have substantial implications for quality of life at advanced ages. Understand that longevity has three primary components that are highly interdependent on each other, in that outcomes, positive or negative, impacts the other and that just a few simple actions can make a huge impact.
WellnessWellness includes being healthy in both mind and body. Physical fitness is at the core of wellness and is central to obtaining longevity. It can also lead to a healthier mind. Think about the benefits of exercise and how it helps to decrease stress levels.
Cognitive health is a key determinant of one’s satisfaction with life, social engagement and independence. A healthy mind is also key to working on one’s overall wellness. As one ages, the mind enters different stages and needs to be prepared and engaged. Social activities, volunteer engagements, perhaps working longer should be planned for and budgeted while mobility is high. |
WealthThe healthier one is in wellness, the easier and longer ones resources will last to maintain financial security. Resources might be comprised of continued employment into one's later years, fruits of one's planned savings during their accumulation years, and lastly, government programs such as security and Medicare. If planned properly, wealth provides the elements needed for financial security. If wellness was also well planned for, studies show that one's financial plan will have longevity too.
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