[dropcap size=small]O[/dropcap]utliving their retirement funds: In a 2016 survey by UBS Investor Watch, wealthy Singaporean investors cited this as one of their top financial concerns. This potential downside to longevity – otherwise one of humankind’s most sought-after goals – just took on greater significance. A recent study by Imperial College London and World Health Organization looked at mortality and longevity trends in 35 industrialised countries, including Singapore, and scientists are predicting that all nations involved will see an increased life expectancy by 2030.
While it was previously believed that an average life expectancy of over 90 years of age was impossible, it’s now been projected that baby girls born in South Korea in 2030 can live up to a whopping 90.8 years, thanks to better health care and awareness. The fact that we will live even longer than before has naturally raised concerns about adequate health and social care systems, but there’s also the burning issue of the nest egg. While it’s bad news not knowing if we’ll ever get to put our tools down, the silver lining is that we now have more time to save the requisite millions for our golden years.
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