Good news for those aiming for long life: Folks over 100 are the developed world's fastest-growing demographic.[i] A phenomenal statement about human progress! But with longer life expectancy comes greater financial need.
A recent World Economic Forum (WEF)[ii] report highlights the issue. It estimates the average American 65 year old has enough savings to cover only about 10 years of retirement, despite a 20-year life expectancy (and rising),[iii] with similar shortfalls in other advanced countries. By 2050, the WEF warns, there will be a several hundred trillion dollar global retirement savings shortfall.
Read Full Article »