Tuesday, May 15, 2018
UBS recently conducted a survey among wealthy investors in 10 countries inquiring of their expectations and worries of aging to 100 years old. Investors in America were the most pessimistic of such longevity, citing rising health care expenses as their top financial concern. About half of the US investors surveyed hope to live to the century mark, but less than a third believe they actually will. The current life expectancy in America is now roughly 80 years.
Being optimistic when it comes to age may economically be a good practice. “The risk of being pessimistic about their longevity is under-planning,” says Michael Crook, chief investment officer of UBS Global Wealth Management. 75% of U.S. investors plan on making financial changes and spending habits due to extended life spans, compared to 91% globally.
See Fang Block, Longevity Prompts Wealthy Investors to Adjust Planning, Barrons.com, April 19, 2018.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.) for bringing this article to my attention.