Recently I read The 100-Year Life by Lynda Gratton and Andrew Scott from the London Business School. The book recognizes that due to varying factors such as improved living conditions and advances in medicine, people are ultimately living longer. What jumped out at me early on was the question:
“Would you live your life differently if you knew for sure that you would live past 100?”
Makes you stop and think, doesn’t it? If retirement age is assumed to be around 60-65 years, yet there’s a greater possibility of living past your 80’s, what will you do with your time and how will you fund it? It’s unlikely that the pension or traditional savings will be enough.
In many ways, addressing this question actually opens the door to countless opportunities. It gives us permission to reflect on what we’re passionate about and what we would do if money wasn’t an issue. It might be a career change or a new business focusing on something important to you. Maybe you want to travel around Australia or the world with no agenda. Whatever this might look like for you, start taking steps now by focusing on finances, health, knowledge and any other areas that might support your success.
We might be living in uncertain times, but it’s essential to keep planning and building towards long term success.
By David Murdoch