What should you know?
Life expectancy continues to rise around the world. The graph below shows how global life expectancy has increased since 1950:
When you look at this chart you must be very careful as averages can often hide the reality. This reflects the life expectancy of everybody on the planet, which is of little relevance to you because you are not an average person.
The global average includes:
– People with little or no access to healthcare – this is not you
– People who do not have access to vaccines – this is not you
– People who do not have access to clean water – this is not you
– People living in war zones – this is not you
I could list many more, but the key point is that your lifestyle and circumstances are considerably ‘above average’. This means you should expect to live for an above average amount of time.
Why should you care?
The chances are you will live longer than you think. Did you know that a couple aged 65 today has a 72% chance that one of them will reach 90?
You must accept your likely longevity and make plans to ensure your accumulated wealth will be enough to support you for 30+ years in retirement.
State-provided pensions can no longer be relied upon to provide sufficient income for a comfortable retirement, and in some cases may not provide any income at all.
That means it is down to YOU to build the wealth you need, to afford the retirement you desire.
Your ‘wealth window’ is ever closing so if you haven’t done so already, now is the time to start planning for a long and fruitful life.
