Podcast #298 – How Are You Planning for Your 100-Year Life?
This week is a rebroadcast of one of my favorite episodes from 2019. How Are You Planning for Your 100-Year Life with Andrew Scott? I am releasing this episode the week after the US Thanksgiving holiday. Rather than not publishing an episode, I thought I would dig back into the archives and rebroadcast one of the more impactful episodes of 2019. If you listened to this episode 3 years ago, I suggest you listen to it again.
Andrew published The 100-Year Life: Living and Working in an Age of Longevity. He is also the author of the NextAvenue.org post titled Is 75 the New 65? How the Definition of Aging Is Changing.
The book The 100-Year Life is about how our expectations of how life might look like when we regularly live to 100 years old. He does this by discussing 3 different scenarios:
- Jack born in 1945 had a typical 3 stage life, education, work, and retirement. He retired at 62 but passed away at the age of 70. He is married but his wife is a homemaker.
- Jimmy was born in 1971 and has a life expectancy of 85. He planned for a 3 stage life but work had to be extended. He has 3 stage extended life. He is married but his wife makes less money than himself.
- Jane was born in 1998 and has a life expectancy of 100. She will likely not be able to retire until she is 85. The 3 stage life breaks. She probably does not get her first professional job until she is 30, and marries later but to someone who has equal earning power. They each take breaks from their careers every decade or so to reinvent.
This is a fascinating topic as the traditional retirement age of 65 does not work when many will live to 100 or even longer.
We are all living longer. Even though this was recorded prior to the pandemic the points that Andrew Scott makes about what it means to get older are still extremely relevant.
The article titled Is 75 the New 65? How the Definition of Aging Is Changing is how a 75-year-old today has the same life expectancy of a 65-year-old 40 years ago. You can think of this in a way that you have been granted 10 more years of life. What are you going to do with it?
I think our conversation is even more relevant today as the pandemic is getting us to re-evaluate what we are doing and what we want to do with our lives.
This episode is sponsored by Career Pivot. Check out the Career Pivot Community, and be sure to pick up my latest book, Repurpose Your Career: A Practical Guide for the 2nd Half of Life Third Edition.
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