Finance & Longevity Planning

Finance & Longevity Planning

As people are living longer, retirement planning as we know it is being replaced by longevity planning, a concept that requires holistic thinking from the individual, family and societal perspectives. Retirement once meant leaving the workforce to pursue leisure activities, but today’s aging population is reinventing life after 65.

Financial planning is critical to enabling individuals to address traditional long term planning questions, i.e. where will you live? How will you travel to the grocery store? However, ensuring quality in longevity is equally important. How will you stay involved in your community or grab coffee with a friend? Do you want to volunteer or work part-time? Are there opportunities for lifelong learning? Beyond individual planning, increased longevity requires society as a whole to rethink how older adults will maintain their quality of life and well-being.

AgeLab works with financial service firms, banks, and insurers to explore how people think about longevity issues throughout the lifespan and take action to plan for life tomorrow. Furthermore, we examine the role of engagement, advice and trust across generations to ensure financial preparedness for a variety of paths.

100 years changes everything. Demographers suggest that most babies born today will live to 100. Imagine an average lifespan of 100 years. What would that mean for retirement? If--and it is a big if...
With Alzheimer's Disease and dementia on the rise and baby boomers rapidly approaching old age, individuals and families will need to rethink retirement planning. The AgeLab is working to develop a...
As part of the Health & Wealth study, middle-aged and older adults discuss their relationships with financial advisors. What makes advisors appear trustworthy and empathetic? Financial...
Does a shared lifetime guarantee shared views on retirement and financial planning? Financial decisions are rarely fully rational. Rather, they are dependent on the full context of one’s life,...
Building on research that has proven a propensity for people to think in terms of metaphors and mental models, we conducted an exploratory study to gain insight into how consumers frame their idea of...
Financial advisor-client relationships are critical to behaviors that optimize retirement security. In the Age of Social Media, what characteristics of advisors are most important and valuable to...
Today, stress is omnipresent in our daily lives: We have more things to do and even less time to do them. When it comes to looking ahead and planning for the future, stress isn’t checked at the...
As we speak, Millennials are re-inventing what it means to live and age in the twenty-first century. People in their twenties and thirties are finishing school, leaving home, becoming financially...
Understanding Retirement Planning: A National Survey To Plan or Not to Plan: What Influences the Decision to Plan for the End-of-Life? Retiring Together: Understanding the Roles, Conflicts...

 

MIT AgeLab
1 Main Street, 9th Floor
Cambridge, MA 02142
ph: 617.253.0753
email: agelabinfo(at)mit.edu

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