Released yesterday, Life Trust Foundation research shows that women aged 55 now have a 25% chance of living until they are 95. That’s one in four will go all the way to 95.
It also shows that most of them will live unaccompanied or in care homes. Most of them will travel lonely from life into death at that age.
Figures show that over 300,000 women are currently over 90 in the UK. This figure is expected to grow to 600,000 in the next 30 years.
People at that age will have lived though the second world war and know all about the general strike. They’ll know all about Queen Elizabeth’s reign.
The statistics should send a bleak caution to people who are not prepared to deal with their longer lives.
Those in the finance world say that many will face a difficult future because of a lack of actual funds due to the rising cost of living, care homes and nursing care. Many will have to sell their home and spend their savings just to pay for these ‘treats’.
Planning these latter years will be imperative. Updating your will to account for what you have will be essential. Deciding what you can give away and when becomes more troublesome.
After all, your children may be in their early 70’s.
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