A bit of a non-answerable question and probably something all of us give at least a bit of thought to off and on over the years. However, as we start to understand some of the factors that affect our lifespans and technology develops, we can begin to have a better idea about what the answer to this question could be.
To see how long it will be before you can expect to see St Peter at the Pearly Gates (or whatever the corresponding gatekeeper for your religious beliefs are) visit: www.mylongevity.com.au. Whilst I will take it with a grain of salt (as I’m not sure why my daily consumption of nuts affects my lifespan), I do think it is more useful than the Australian Life Expectancy Tables which take into account nothing from your personal background.
I’m a numbers person, whether that’s by nature or nurture I’m not sure, probably a combination of both. I certainly don’t think scrolling through the Australian Life Expectancy tables is for everyone but I appreciate the information they provide and how they can be used.
I’m 45 and based on the Australian Life Expectancy Tables I can live another 35 years or to age 80. However, according to mylongevity I have a remaining life expectancy of 49 which takes me into my mid 90’s…a very ripe old age indeed. If I want to retire at 60, that means I need to fund around 35 years of retirement income. Funding retirement for 35 years compared to 20 years is quite a different scenario.
I have regular conversations with people about how long their money will last for when they retire. Whilst there are a few factors to be considered for this, the most unknown one is the “How Long Will I Live” question. Whilst we will never know the exact date (and I don’t think I would want to even if I could), at least now we can have a bit more of an educated guess and plan accordingly.