I’m sure you are aware that over the past three decades life expectancy in Australia has increased. Research titled, Hope for the Best; Plan for the Worst. Insights into Planning for a Longer Life carried out by the National Seniors organisation in February 2018 found that 85% of 5,500 respondents were aware of increased life expectancy, 15% were not. The research discovered that overall those who had planned for their retirement still hoped to be self-sufficient at very old ages, that is 90+ years.
22% of respondents disclosed they hadn’t planned at all for an increasing life span. 50% had made plans for living longer.
Also interestingly 38% had planned for lifestyle and travel, 46% had planned for health care.