Plan your finances and retirement for longer lives and a changing world.
Essentially in every crucial area that retirement planning makes assumptions, dramatic changes are coming. I believe that how we think about and plan our retirement is about to be completely undone.
It is time for financial planners to incorporate the insights of futurists. They need to do their best to help their clients consider life scenarios that take into account possible future outcomes. They need to become Retirement Futurists!
Impacts to your income, your assets, your pension safety, your longevity are just a few reasons that the exponential advances in technology need to be part of your thinking and planning.
The idea that by helping people live healthier and longer lives we can also greatly help the global economy is, I find, very intriguing. This is the thesis of Alex Zhavoronkov’s book “The Ageless Generation: How Advances in Biomedicine Will Transform the Global Economy”.
Recently, Stephen Euin Cobb, of the podcast series “The Future and You”, interviewed me on all things “Retirement Singularity”. We got into healthy life extension, technological disruption, life coaching and the impacts to personal finances.
In particular we discussed most of the themes inside the “End of Retirement As We Know It” report.
A new book entitled “Ageless Generation: How Advances in Biomedicine Will Transform the Global Economy” proposes at breakthrough solution to the approaching economic crisis. Namely, advance anti-aging and regenerative medicine and charge the cultural significance of “retirement”.
Saving a retirement “nest-egg” may be the wrong goal for retirement. Expanding healthy life spans require we “reframe” the notion of retirement.
Is moving retirement age to age 70 the solution for retirement funding shortfalls? As we cope with people living longer and longer, still the acceleration of the rate of change is not appreciated. Moving retirement age to age 70 is an incremental idea couched in outdated assumptions.
Creative Destruction on the way! This 5-minute interview with Salim Ismail is a great run-down of how technology will cause significant disruptions. Important to see this coming so we can be ready to adapt – and perhaps “surf” the changes, Vs. getting swamped. Retirement Singularity focuses on personal and financial implications to help you survive and thrive.
Creating Your Retirement Income Plan I came across this retirement income video that describes a very similar approach that I take when providing retirement income advice. Looking at your retirement savings as belonging to different buckets based on different purposes is the main idea. The "bucket approach" is not new, but it is effective in…
Stay curious. Stay informed. Shape your next chapter.