The World Economic Forum has released a new report, “Knowing about Longevity – Living Longer, Better.” People in almost every country in the world are living longer and global demographics are changing. From 1950 to 2019, life expectancy increased from an average of 48 to 73 years. The United Nations predicts that by 2100, the global average life expectancy will reach around 81 years. These figures are already evident in countries such as Japan, where more than 28% of the population is aged 65 or over, and in European countries including Italy, Germany and Greece, where 23% of the population is aged 65 or over. As people live longer, businesses, governments, and individuals need to rethink how they view aging and retirement and explore new ways to respond to this emerging demographic transition. This report focuses on several key issues: explaining the concept of longevity as an essential element of resilient and sustainable longevity; providing new insights into how individuals view aging and retirement; and offering solutions for each stakeholder to address the key elements of longevity (quality of life, purpose, and financial resilience). The report aims to reach individuals from any background around the world, helping them to begin to rethink how they design their own longevity and, more importantly, how they finance it. In addition, the report provides a roadmap outlining key factors that everyone should consider as the world enters a new demographic era, in which the three-stage life of school, work and retirement is giving way to multi-stage life, including a variety of different paths, such as lifelong learning, career breaks and new careers later in life. Global demographics are changing. This will require new innovations and solutions to help address how people can remain financially resilient during a retirement that may be 20 years longer than their grandparents. |
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