Life Expectancy and Our Retirement

A big issue that is gaining a great deal of attention is the life expectancy of an average human being and how it has been slowly increasing in today’s age. With modern health practices, medicine and the latest in technological developments, the average adult life leading towards the ripe old age of 100 is becoming quite possible.

While this is great news, it can be quite worrisome when you throw retirement into the mix. 65 is the age most people aim to retire and many more are planning to retire at 60 and earlier. I for one am aiming to retire somewhere in my early 50’s and hopefully even leave the workforce much sooner if I can get a viable business up and running whatever it may be. One thing I am cautious about is the possibility of living 40+ years without an income from a job. It seems that us future retirees will have to be more strategic in the coming years!

If you, like me, are interested in receiving a calculated estimate on how long you will be alive, I would suggest you visit the Living to 100 life expectancy calculator. The questionnaire takes roughly 10 minutes to complete and it is free.

As our life expectancy continues to increase, I do not want to spend more of my time in the workforce then I have to. I value my time and I am looking forward to becoming financially independent while still being relatively young. I believe that sound investing at an early age is a great way to be prepared for life after work as well as being content with what you already have. Also, take advantage of employee matching to your retirement fund while you are employed as this is free money. Free money is always a good thing! If you consider your self in being far from financially savvy, I would suggest an investment in index funds. Index funds are a low cost alternative in investing and almost always out preform mutual funds. A great article from Financial Self Starter on index funds and can be found here.

While it is a smart idea to prepare living for the long haul and have as much saved as possible to enjoy your life, try not to stress too much about it. Besides, stress decreases our lifespan!

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