More of Us Are Living to 100: How That Affects Our Finances

Reader Comments
Back to blog

My dad recently died 2 days after celebrating my mom's birthday and 2 weeks shy of his 90th birthday. He spent the last 2 years of his life bed ridden and totally dependent on my 82 year old mom's help along with hired daytime care givers. He went through a third of his retirement nest egg. Had he lived 4 more years, they would have been broke and my mother would have nothing in the bank for her twilight years. I moved in with mom and I'm helping to support her, but I'm 59 and wanting to retire by 60. Then I can look forward to 30 more years of life... albeit less indepently during the last years, but hopefully not bed ridden like my dad. My mom is a sprite, fit and active person at 82 and her grandmother lived to be 99 and she has a aunt who she just visited who is now 98. She wants to live to be 100, but 90 is more than enough for me. Even 80 would be fine. I just wouldn't want to live if I become a burden on my family and become confined and only a shell of the person who I have become.

Tony Lee of CA 7:05PM March 04, 2009

I don't see why I can't have another good 5 years to work (haven't done much of anything from 72 to 75), That might help out the financial situation.
What to do is the question.
Obviously accept the fact I will never make what I used to make but admit that something might be better than nothing.
I am wondering if a job working with those OLDER than me might be a choice.
Companion...live in companion to someone interesting

Elizabeh of GA 3:55PM December 19, 2008

Even though life expectancy might project a longer years of living, however, nowadays, younger generation more exposed to electronics kind of stuff and social problems, such as mobile phone, television, internet influencial, fast food, pressure, that might create a side effect in the community for a healthy living environment, frequent medical checkups and frequent economy crisis. Life expectancy should be counted when the future generation lifestyle is taken into account, whether they smoke/drinks, pressure, instead of todays older generation compared with a historical data.
If you know what I mean, try to compare World war I and World War II data, what's the life expectancy rate?
Furthermore have to deal with global warming that create natural disaster and to deal with inflation.
Mostly anykind of investment it doesn't protect well enough for the golden ages, as the system itself doesn't include the rate of inflation. By young, $1000 invested might return you $50000 by the ages of 95, however for inflation, future $50000 value might be todays $1000 value. Who knows?

Steven 2:43PM October 30, 2008