Tag Archives: life expectancy

Tontine: Retirement Plan of the Future?

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tontinebookHere’s my latest MoneySense blog, entitled Tontine: Retirement Plan of the Future, which describes a new book by retirement guru Moshe Milevsky entitled King William’s Tontine. We will follow with a guest blog by Moshe himself on Thursday elaborating on his vision of tontine-like structures as a 21st century fix for declining Defined Benefit plan coverage and rising longevity expectations. In some respects, the Tontine — all but banished in many countries — resembles life annuities. Movie goers may recall a movie where the tontine prominently features: The Wrong Box.

Given this week’s press coverage of the voluntary expansion of the Canada Pension Plan (CPP), Milevsky’s book is all the more timely, since it ’s all about longevity insurance and true pensions: that is, life annuities and true Defined Benefit pensions. (NOT Defined Contribution plans, RRSPs, TFSAs, etc., which are really capital accumulation plans that have no implicit guarantee of an income for life, no matter how long you live to.).

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Live long & prosper

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longevityprojectHere’s my latest MoneySense blog, which they’ve titled Working to Live Better, Longer. Since it’s based on a reading of books about Longevity and even Immortality, we’re housing it here at the Hub in the Reviews, Encore Acts and Longevity & Aging blog categories.

Click on the red link above to reach the MoneySense version or if you want to see images of the book covers discussed, they are in the version posted below. (The two sites tend to use different images to illustrate):  Continue Reading…

Are you ready for The Big Shift?

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bigshiftBy Jonathan Chevreau

If you’re intrigued by the kind of content we publish on the Hub, you should be fascinated by The Big Shift, a book published originally in 2011 by Marc Freedman.

The subtitle tells it all: Navigating the New Stage Beyond Midlife. Freedman is a “social entrepreneur” who founded a firm called Civic Ventures (now Encore.org), and previously published (in 2007) a book called Encore: Finding Work That Matters in the Second Half of Life. We’ll review that in the next few weeks.

Both books have crystallized my thinking of what this site is all about, so much so that we have renamed the fifth of our six major blog categories Encore Acts, (from the previous IBusiness Ownership). As we noted in Saturday’s new weekly wrap, an Encore Act may or may not include entrepreneurship but there are many Encore Acts that may not involve launching a new business.

The Longevity Bonus: centenarians galore?  Continue Reading…

Global Life Expectancy up more than 6 years since 1990

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Longevity Word Clocks Time Flying Durable Lasting Experience ConBy Jonathan Chevreau

Life expectancy around the world has risen by a whopping six years since 1990, according to a global survey released Friday.

As the CBC reports here, these longer lifetimes are occurring in both rich countries and poor ones, although for different reasons.

In the affluent west, it’s driven by falling death rates from the two big scourges of cancer and heart disease. In poorer countries, increased life expectancy is the result of progress in fighting tuberculosis, malaria and diarrhea. The tragic exception, however, is southern sub-Saharan Africa, where life expectancy has actually fallen five years because of rising deaths from HIV/AIDS.

The 2013 Global Burden of Disease Study was published in the Lancet medical journal.

For those born in 2012, life expectancy in Canada is now 80 for males and 84 for women, according to this report in May of 2014.

The Hub’s Take

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An Aging World: Not to be obsessed

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We’ve mentioned Mark Venning and ChangeRangers.com several times in this site as well as sister site FindependenceDay.com. His insights on Aging and Longevity are a big reason why we have included a regular section of the Hub on this topic. One of his aphorisms is particularly insightful and directly related to financial planning and financial independence: “Plan for longevity, not retirement.”

As the previous blog in this section (by Doug Dahmer)  explained, the fatal flaw in most retirement plans is failing to take into account extended longevity. Mark also regularly writes on this theme, as in a recent piece on Financing Longevity, which also provides a nod to the Financial Independence Hub.

Below, specially for the Hub, Mark has composed a year-end reflection on these themes, based on his recent travels. We hope to run more like this in the new year!

markvenning
Mark Venning, ChangeRangers.com

By Mark Venning,

Special to the Financial Independence Hub

Hardly a day goes by that there isn’t some symposium, book or report (not to mention a blog post or three like this one) about an aging world, longevity and retirement. You can even Google search longevity calculators that can project how long you can expect to live. It’s an aging obsession.

As Ted C. Fishman says in his 2010 book, Shock of Gray – “…although the aging world is the sum of choices made by large populations, how we navigate the future of this world – how we love and care for ourselves and those we cherish – will also be an intensely personal matter.”

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