People are living much longer these days, and it is a good reminder that one really has to provide for one’s retirement.  I think far too many people retire too early – 60 is a ridiculous age to retire – and then they also retire with too little money.  A recent article in The Economist magazine confirmed that life expectancy in richer countries has been growing at a rate of about 2½ years for every decade or, as they put it, every hour that you live, it appears that life expectancy is growing another 15 minutes!  

In short, people are living far longer now and the figure is going up every day, than they ever lived before and every prediction as to at what age people are going to die is proven wrong with the current generation.  While that is good news for those who want a nice long life, it is very bad news for governments and taxpayers, because ultimately taxes will have to be raised to fund what will be dramatic shortfalls and pensions around the world and it is bad news if you don’t start early on getting those retirement savings going.  I have always suggested a retirement annuity, because it has tax benefits and it also has the benefit that it does not fall into your estate if you should for example be sequestrated.  I don’t believe people, in any country, relying on government pensions can expect a comfortable or decent retirement and it is up to one to save or accept whatever you are given when you are 70.