New retirement age is not 65, not 80, not 95: It’s higher
Eric Rosenbaum
CNBC.com
Wednesday, 3 Jun 2015
Human life has reached an inflection point—one that matters a great deal for those planning for retirement.
One hundred years ago, the average lifespan was about 42. That’s now doubled. People are living longer and trying to stretch their income to make ends meet and stay ahead of inflation, but that’s not the inflection point financial advisors are really concerned about—that’s just the everyday blocking and tackling on behalf of client portfolios. The emerging challenge goes way beyond that.
Scientists have found the mechanisms that govern aging and are already doing experiments in rats on how to reverse it. They’ve found species that do not die of old age, such as the jellyfish Turritopsis.
“We’re adding three months to life per calendar year,” said Salim Ismail, former innovation director at Yahoo and founding executive chairman of Singularity University. “It’s not an if, it’s a when, and the point in time is in the 15- to 20-year range,” said Ismail, speaking at the Exponential Finance conference in New York City on Wednesday.
“In a decade or two, or three, there will be a class of people taking treatments who can live for a long time, and that affects employment planning, retirement planning … Society will never have seen that before,” Ismail said.
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