You May Live Longer Than You Think : Financially Plan For It

A lady doctor caressing the old man and smiling

The Wall Street Journal recently ran an article entitled “Plan on living past your life expectancy,” which emphasized the fact that with people living longer, many outlive their money.  There are many reasons that this could happen, among them claiming Social Security too early, passing up the opportunity to buy annuities or long-term-care insurance, or simply mis budgeting.  Life expectancy refers to the average number of years someone will live from a given age, while longevity refers to how long someone might live if  everything goes well.  Many people, unfortunately, are ignorant of their so-called longevity risk, which is the probability of living a very long life.  Speak with your financial advisor to see if you are prepared for a long retirement.

Mediterranean Diet Continues To Get Kudo’s

A variety of fruits and vegetables

It’s been known for years that following the “Mediterranean Diet” leads to better health and longevity.  The problem is, there is no direct diet for it, it is more of a lifestyle which U.S. News & World Report recently ranked the number one best diet for 2023 out of 24 diets analyzed.  This is the sixth straight year it has won top place.   The diet is rich in fruits, vegetables, legumes and whole grains, as well as seafood and lean poultry, with a focus on unsaturated fat from sources like extra virgin olive oil.  You should try to avoid red meat, whole fat dairy, sweets, processed meat and snack food, sugary drinks, butter and have a limited amount of alcohol.

The Oldest American Dies at 115 Years Old

The oldest person in America, Bessie Hendricks of Iowa, who lived through the roaring ‘20s, two Great World Wars, the launch of the Internet and then the pandemic, has passed away at the age of 115 on January 3.  When she turned 112, she told a reporter than the secret to her longevity was hard work, staying away from doctors and making sure you eat sweets.  Making it to Centenarian status (100+ years old) is rare.  According to the United Nations, there were over 97K Centenarians in the U.S. in 2021, almost double the number there were in 2010.  In 1950, there were only 2,300.

Tips For Living To 100 Years Old If You Are In Your 60’s

A nurse applying cream on the elderly woman hand

The number of centenarians, those living to the age of 100, continues to increase each year.  Much of this can be attributed to a good diet and exercise, but some of it is just genetic.  Researchers with the New England Centenarian Study discovered 281 genetic markers that predict with 61% accuracy who will reach their 100th birthday.  Men in their 60’s have a 3.4% chance of making it to 100 compared to 6.5% for women.  About 85% of centenarians live in cities where they typically have better access to medical care, social networks, culturally stimulating activities and transportation.  A United Healthcare study found that 87% of centenarians communicated nearly every day with a friend or family member.  Social interaction counts!  Another factor was church.  Attending religious services four times per month has been linked with an increase in life span of four to 14 years.  According to interviews by National Geographic and the Blue Zone organization, 258 out of 263 centenarians said they belong to faith-based communities.

How To Live To Be 100 Years Old

The number of Centenarians continues to increase, although the “average” life expectancy is in decline due to COVID-19, opioid drug overdoses and other issues.  The Wall Street Journal recently interviewed one of them, 100 year old Charlotte Sanddal.  The World War II veteran attributes some of her good health to swimming regularly.  A friend encouraged her to enter a freestyle event at the 1994 Montana Senior Olympics, where she won the gold medal.  Girls didn’t have the opportunity to compete in sports when she grew up during the 1920’s.  After winning her medal at age 72, she started training with a Masters swimming program near her home in Helena, Montana.  She slowly learned to flip turn, a technique used to change directions by somersaulting and pushing off the pool wall with your feet, and got all four strokes down.  Butterfly was the hardest, she said.  Congratulations on your longevity Charlotte.

Low COVID-19 Vaccination Rate Chops Two Years Off Life Expectancy Rate in The U.S.

cargiver brushing senior lady's hair - carmel ca in home personal care

In 2020, most countries posted a huge decline in life expectancy as COVID-19 boomed.  Many countries have shown signs of recovery, but not in the U.S. according to a study published in Nature Human Behavior.  Researchers said seven nations in Western Europe showed a significant increase in life expectancy in 2021.  However, the U.S. reported the third-largest decline in life expectancy, closely behind Bulgaria and Slovakia.  More than two years have been cut off the average life expectancy between 2019 and 2021 in the U.S., when it fell from 78.86 years in 2019 to 76.60 years in 2021.  The study attributed much of the decline in the U.S. to an extremely low vaccination rate compared with Western Europe.

Key To Being Centenarian Not Necessarily Good Eating And Exercising

cargivier sitting with elderly man - pacific grove in home caregiving

Want to live to be 100?  Many people believe that eating healthy such as a Mediterranean diet and getting the proper amount of exercise are the keys to longevity.  Although they help, part of it is in the genes and women have a much better chance of hitting this milestone.  Men in their 60’s have a 3.4 chance of making it to 100 compared to 6.5% for women.  But your genes also play a big part.  The New England Centenarian Study found 281 genetic markers that predict with 61% accuracy who will reach their 100th birthday.  Interestingly, about 85% of centenarians live in cities where there is better access to medical care, social networks, culturally stimulating and transportation systems.  Social interaction is also important.  A study from United Healthcare found that 87% of centenarians communicated nearly every day with a friend or family member.  Attending religious services also has an impact.  Going to church four times per month has been linked to a four to 14 year increase in life expectance (AARP Bulletin August/September, page 47).

Get Living Trust, Will, POLST And Power Of Attorneys In Place Immediately

A caregiver posing with the senior female patient

Based on a new survey done by AARP, our 60’s are a watershed decade when it comes to shifts in attitude regarding longevity, relationships, well-being and wealth.  At the same time, concerns about life expectancy dips, while worries about stamina, cognitive skills, diminishing eyesight and memory loss rises.  It’s not until people get into their 80’s that many people reported making necessary plans to help their families and medical team understand and carry out their end-of-life wishes, as well as planning for their assets, funeral and burial.  That seems like a long time to wait!  My suggestion is to get a living trust, will, POLST and medical and legal power of attorneys in place immediately.  You never know what the future will hold.

Monterey, CA Caregiver Costs Rising : It’s Expensive To Stay In Your Own Home And Independent

A glass jar with retirement sticker filled with money

A recent article in AARP Bulletin said that nearly 70% of senior citizens will require help from others to get through their day.  Women will need it for an average of 3.7 years and men 2.2 years.  However, having owned Family inHome Caregiving of Monterey and Santa Cruz for more than 12 years, I think these numbers can be low—some people require help for more than a decade.  Seniors are living longer, and if you live to be over 100 and need care starting at age 80, that can be two decades of monthly caregiving bills if you don’t have a relative willing to step in.  Unfortunately, Long Term Care or LTC Insurance is the only type of insurance which pays for having a caregiver come to your home, and few people have it.  I always urge the children of clients that we care for to get it while they can.  It’s very expensive and the younger you get a policy and the healthier you are the better rate you will get.  Some companies also give discounts if both a husband and wife buy a policy at the same time.

Pebble Beach, CA Caregiver Costs Rising : It’s Expensive To Stay In Your Own Home And Independent

A glass jar with retirement sticker filled with money

A recent article in AARP Bulletin said that nearly 70% of senior citizens will require help from others to get through their day.  Women will need it for an average of 3.7 years and men 2.2 years.  However, having owned Family inHome Caregiving of Monterey and Santa Cruz for more than 12 years, I think these numbers can be low—some people require help for more than a decade.  Seniors are living longer, and if you live to be over 100 and need care starting at age 80, that can be two decades of monthly caregiving bills if you don’t have a relative willing to step in.  Unfortunately, Long Term Care or LTC Insurance is the only type of insurance which pays for having a caregiver come to your home, and few people have it.  I always urge the children of clients that we care for to get it while they can.  It’s very expensive and the younger you get a policy and the healthier you are the better rate you will get.  Some companies also give discounts if both a husband and wife buy a policy at the same time.