Plan For a Longer Life
Life expectancy is increasing, and the rate of increase is accelerating. People live longer than they expect to live. If you lay the foundations of your future - savings, investment, work - with an eye to your grandparent's lifespan and strategies, then you're not planning well. "As greater longevity is increasingly becoming a fact of life, people are leaving themselves vulnerable to financial hardship at a time when they are most in need ... Nearly half the population of the UK said they were only expecting to live to the same age as their parents' generation ... Interestingly, whilst people do not realise the possibility of themselves living longer than their parents, they do recognise that their children will live longer lives than they will. However, 18-24 year olds grossly underestimate this, with only 25% of them thinking that their children will live longer, whilst 44% 55 year olds thought this. ... People acknowledge increased longevity for younger generations but do not realise that this is a very real issue for them today." Plan for an interesting future - and recognize that you have more than enough time to save and invest all you will need, even in the best scenarios of radical life extension.
Link: http://www.easier.com/view/Finance/Pensions/News/article-176667.html