In his annual letter to shareholders, BlackRock’s Larry Fink shares these thoughts on April 10, 2017.
“The graying of the population in developed countries is without precedent in human history.
While most developing countries outside of China can look forward to a demographic tailwind for many years, developed countries are rapidly aging.”
“According to estimates by the United Nations between 2015 and 2030, the number of people in the world aged 60 years or over is projected to grow by 56%, from 901 million to 1.4 billion. The number of people aged 80 years or over, the “oldest old” persons, is growing even faster. Projections indicate that in 2050 the oldest old will number 434 million, having more than tripled in number since 2015, when there were 125 million people over age 80.”
If you happen to be female, the situation is even worse. For decades to come, women’s life expectancy on average will continue to be 3 to 5 years longer than that for men. This results in higher healthcare expenses in addition to coping with inflation for a longer period of time. (2)
If you are age 50+ and in relatively good health, please do not wait any longer to contact us!
We will work with you to determine what you need in the way of income and assets to help assure a successful retirement. Then, we will work with you to create a plan to fulfill that goal.
Barbara A. Culver
CFP®, ChFC®, CLU, AEP®