Product: Financial planning
Most of us expect — barring unfortunate and unforeseen circumstance — to live to a ripe old age. To at least 80, maybe 90. Heck, some financial planners caution us to plan on living 100 years or more.
We know that our retirement years will probably start around 65. And we all know the drill about saving now to sustain ourselves financially during those years.
But saving for retirement hasn’t always been a given.
This ad from 1927 plainly shows that many people didn’t plan for retirement because they didn’t think they’d be alive past 65.
Yet things were beginning to change, and the financial services companies were urging people to consider the statistics:
Sixty-three per cent of the 40-year-old men of today will be living at age 65.
To provide for yourself if you live to old age is as necessary as to provide an estate for your family. (emphasis from the ad)
If you lived to old age. A 63% survival rate as surprising. Old age at 65.
What a tremendous shift in cultural thinking from then to now. Improved nutrition, access to medicine, and a myriad of other blessings, big and small, have extended our life expectancies by more than a third in less than 100 years. Mind-boggling.