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, 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?
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.