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Listen: Living to 100

Jun 10, 2022

Living to 100More and more people seem to be living to 100 and beyond. Scientists are predicting that the average life expectancy in the UK will hit 100 in 2064.

Even today, the chance of a 50-year-old woman living to 100 is almost 1 in 10. For some people that may be a very exciting prospect, but for others it is simply terrifying. How are we expected to save enough money in 40 years of working to fund 35 years of retirement?

Living to 100: how to make your money last

In this podcast, Maya (@mayaonmoney) speaks to financial planner Wynand Gouws about his book To 100 & Beyond – how to make your money last as long as you do. The book provides sound, tried-and-tested advice on how to approach living a longer, financially secure life.

With life expectancy getting longer, the notion that you have to retire at 65 is becoming outdated. More importantly, retiring at 65 may simply be impractical these days – and even financially hazardous. How do you provide for yourself should you live to a ripe old age, as is becoming increasingly likely?

Irrespective of where you currently are in life – starting out in your career, approaching retirement, or already retired – living longer fundamentally challenges the traditional mindset of a retirement date being a line drawn in the sand.

Wynand explains that asking “when should I retire?” is the wrong question, and that we should rather be imagining what we want our lives to look like post 60.

He emphasises the importance of planning your investments during your accumulative years to include an array of different products so that you can structure your retirement income in the most tax efficient way.

He also unpacks the curious phenomenon that the older you are, the longer you are expected to live.

2 Comments

  1. 75 years old & I am not asset rich but money poor what should I do ?

    Reply
    • It does become more difficult once you are well into your retirement years. One suggestion is if you have a skill that you could earn money from?

      Reply

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Maya Fisher-French author of Money Questions Answered

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