The World Economic Forum (‘WEF’) has recently published a new report entitled Living Longer, Better: Understanding Longevity Literacy. Using the concept of longevity literacy, stakeholders can focus on three pillars – quality of life, purpose, and financial resilience – to start reimagining what a sustainable and fulfilling long life and retirement can look like.
As people live longer than at any other point in history, it is essential for business, government, and individuals to rethink their approach to planning for later life.
This report shares insights from a unique Pulse Poll, which examines how individuals perceive ageing and retirement. Moreover, it provides a set of concrete actions that every stakeholder – individuals, business, and government – can take to address the three dimensions of longevity literacy and be successful in a potentially 100-year life.
The review by WEF focuses on several key issues: explaining the concept of longevity literacy as an essential element of a resilient and sustainable long life; providing new insights into how individuals perceive ageing and retirement; and offering solutions for each stakeholder to address the critical elements of longevity literacy – quality of life, purpose and financial resilience.
Moreover, this report provides a roadmap of the key factors everyone should consider as the world enters a new demographic era in which the three-stage life of school, work and retirement is giving way to a multistage life that includes a variety of different paths, including lifelong learning, career breaks and new occupations in later life.
Changes to the global population are coming. These will require new innovations and solutions to help address how people can stay financially resilient during a retirement that might be 20 years longer than it was for their grandparents. This demographic transformation will offer individuals a chance to implement new approaches to longer lives and reassess how people studied, lived, worked, saved and retired in the past century.
To obtain a copy of the full report click on the link above.