Planning for the future as life expectancy nears 100

Neil Wilson of True Bearing

Recently, I read “The 100 Year Life” by Gratton and Scott, two UK academics. It’s a thought-provoking read.

My children are still in education but with rising life expectancy, their lifespan could be very long indeed.

For children born in the Western world today, there is more than a 50 percent chance of living to be over 105. A century ago, the chance was less than one percent.

If you are now 20 you have a 50 per cent chance of living to 100. If you are 40 you have an even chance of reaching 95.

A child born today is likely to work into their mid-70s, and possibly beyond.

The historical three-stage life of education, work, retirement is changing and will continue to do so.

How do you plan for such a long lifespan?

That’s the big question. Without realising it, we are used to thinking of life in three stages.

Growing up and education to about the age of 20; then working to 60-65; then retiring and enjoying our free time, until frailty impacts our activity and ultimately our death.

Our time in this last stage is changing compared to our parents and grandparents.

We are expecting to live many years beyond our retirement compared to previous generations.

However, pensions were only ever meant to pay out for 10-15 years. As we saved through 40 years or more of our working life, it was achievable to fund our initial expectations of retirement.

So how do we fund another 40 further years beyond work; our longer-than-expected years of retirement?

Reality shows that many of today’s 60- to 80-year-olds are not retiring.

Many continue to work, often part-time. They sell the skills they have built over the years and enjoy the best of both worlds.

Flexible pensions allow them to take a smaller part of their pension and add earned income.

They enjoy the sense of purpose of continued working, the social interaction with business colleagues, a satisfactory income, and yet still have some time to relax.

This is the new world of our older generation today. They need professional financial planning assistance to get this programme in motion.

Once you have drawn down even a small part of your retirement pension, shouldn’t you be able to top up your pension pot again?

Well, depending on the structure, and subject to certain conditions and limits, you can.

In my role as an independent financial planner I am often discussing goals and aspirations with those who are preparing for retirement, and are aware that they need to start planning before it is too late.

But, just as important, are the conversations with younger individuals, including those who are at an early stage in their careers, who realise that it is never too early to start planning for the future, and also more necessary than ever before.

Enjoyed this? Read more from Neil Wilson, True Bearing

Latest news

1

Final call for investors: Rossendale community solar project must hit target by November Gary McEwan managing director of Interfloor

Final call for investors: Rossendale community solar project must hit target by November

10 Sep 2025

2

Lancashire Combined County Authority unveil plan to Get Lancashire Working Lancashire Combined Authority

Lancashire Combined County Authority unveil plan to Get Lancashire Working

10 Sep 2025

3

Lockheed Martin Skunk Works and BAE Systems’ FalconWorks announce strategic collaboration Collaboration between BAE Systems FalconWorks and Lockheed Martin Skunk Works

Lockheed Martin Skunk Works and BAE Systems’ FalconWorks announce strategic collaboration

09 Sep 2025

4

High street retailers urged to ‘take advantage’ of new funded support programme Brian Moore, Lee Johnson, Anne Williamson and Andrew Leeming

High street retailers urged to ‘take advantage’ of new funded support programme

08 Sep 2025

5

Beaverbrooks invest in the high street in difficult conditions Mark Adlestone And Anna Blackburn Beaverbrooks

Beaverbrooks invest in the high street in difficult conditions

08 Sep 2025

Background image for hub sign up block

LBV Hub

Leverage Lancashire Business View platforms

Post your news
Post your events
Post your offers
Build your network
Improve your SEO
Gain coverage in the magazine
Sign-up
Events
Sub36 Networking - Follow the signs
Sub36 Deaf Village Social1200
Networking
17 Sep 2025

Sub36 Networking - Follow the signs

The Deaf Village, Blackburn, BB2 5EN

10:00 - 12:00

LBV124 September/October Launch Event
MBP Arc Cinema Preston Opening 205
Networking
18 Sep 2025

LBV124 September/October Launch Event

The Arc Cinema, Preston, PR1 2BL

08:30 - 10:30

CMI Level 5 Management and Leadership Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Management and Leadership Course

Preston Campus, Preston , PR1 2HE

09:00 - 17:00

CMI Level 5 Project Management Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Project Management Course

Preston Campus, Preston, PR1 2HE

08:00 - 17:00

Longridge Soap Box Derby
Screenshot 2025-06-10 090035.png.png
LBV Hub Fundraisers
14 Sep 2025 - 14 Sep 2025

Longridge Soap Box Derby

Berry Lane, Longridge, PR3 3WH

10:00 - 16:30

Preston Tech Connection - The Ultimate Tech Quiz!
Preston Tech Connection Sept 25.png.png
LBV Hub Networking
16 Sep 2025 - 16 Sep 2025

Preston Tech Connection - The Ultimate Tech Quiz!

Society1, Coworking Space, Preston, PR1 3LT

18:00 - 19:00

The Business Network Central & East Lancashire
LBV Hub Networking
17 Sep 2025 - 17 Sep 2025

The Business Network Central & East Lancashire

Stanley House, Blackburn, BB2 7NP

11:30 - 14:15

Cumbria Business Expo 2025
https---cdn.evbuc.com-images-880461633-4862066883-1-original.20241022-110415.jpeg.jpg
LBV Hub Exhibitions
19 Sep 2025 - 19 Sep 2025

Cumbria Business Expo 2025

Carlisle Racecourse, Carlisle, CA2 4TS

09:00 - 15:00

Your Business, Your Region: Making sense of devolution and Local Government Reorganisation
Chorley Council breakfast event new
LBV Hub Networking
23 Sep 2025 - 23 Sep 2025

Your Business, Your Region: Making sense of devolution and Local Government Reorganisation

Worden Hall, Leyland, PR25 3DH

08:00 - 11:00

Preston Freelancer Meet-Up: September
Sept Freelancer (1).png.png
LBV Hub Networking
23 Sep 2025 - 23 Sep 2025

Preston Freelancer Meet-Up: September

Society1, Coworking Space, Preston, PR1 3LT

10:00 - 11:30

Speed Networking with BNI
2.png.png
LBV Hub Networking
24 Sep 2025 - 24 Sep 2025

Speed Networking with BNI

Chorley Football Club, Chorley, PR7 3DU

16:00 - 19:00

The Marketing Meetup IRL: Lancashire - September
TMM Lancashire
LBV Hub Networking
25 Sep 2025 - 25 Sep 2025

The Marketing Meetup IRL: Lancashire - September

Chorley, PR7 2SL

18:00 - 20:00

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more LBV 123 Online Graphic
Subscribe now

Weekly news bulletin