69 is the new 49?

A Retirement Age of 100? It’s Coming


Excerpt:

On the left is the famous artist Albrecht Durer’s portrait of his 63-year-old mother in 1514. On the right is the lovely actress Helen Mirren at the same age, more recently. .. In other words, the good news is that we’re living longer and, for the most part, healthier, than in the past. Both our mental and physical functioning in later life exceed that of our forefathers and foremothers. My own parents, born in 1916 and 1922, faced a life expectancy of around 45 at birth. Surviving to age 60 was rare in the old days, while today, age 80 is touted as “the new 60” and centenarians (age 100+) are our fastest growing age group. At the same time, we must be alert to the reality that it’s now much more expensive to retire than it used to be. A baby born today could live to age 150 or beyond, a reality that will drastically alter your perspective about your own, as well as your children’s and grandchildren’s retirements. My mom and dad retired three decades ago with a secure defined-benefit pension and retiree medical insurance, reliable Social Security and Medicare benefits, and a house that had appreciated over time. They didn’t need to save a lot, nor did their savings need to stretch very far, given their secure income streams.

Comment: Top image is indeed Albrecht Durer’s 63-year-old mother in 1514. Bottom image is Helen Mirren at 69.