Even in our lifetimes we have seen the average life expectancy increase significantly. Forty, which was once a milestone birthday of reaching “middle age”, is now the time when many people choose to marry, buy a house or change career. People are no longer working tirelessly to one day reach retirement, it is something to embrace and a time to fulfil personal dreams.
The latest life expectancy predictions
The average life expectancy in 2012 was 79.5 for men and 83.3 for women, based on information from the Office of National Statistics (ONS).
Predictions by ONS now stand that by the end of the next decade, people will be living well into their mid 80’s and by 2030 life expectancy figures could have passed previous predictions with men surviving to almost 86 and women to almost 88, on average.
Location however, is expected to contribute to our life expectancy, with certain more affluent areas like London and South England exceeding the life expectancy of those living in areas such as Manchester, Liverpool and South Wales, by potentially as much as eight years.
How this affects our lifestyle choices
Lifestyle choices have also changed at a rapid pace, exponentially in the last 50 years with better health and standard of living in many parts of the UK.
Previously, at 40, many people would be encouraged to cut down on the weekly game of football for fear of injury, whereas now even the over 60’s are encouraged to take up a physical hobby to stay ship-shape and in good health.
Similarly, events that typically used to take place in our twenties; marriage and buying houses for example, are now not such a priority until careers and travels and other personal goals are well underway.
Retirement planning for doctors and dentists
People in the UK are becoming accustomed to the idea that retirement will actually be something they can look forward to and be prepared for when the time arises.
It means retirement planning is becoming more essential, especially if you have big dreams for the day when you do have more time to spare.
Ensuring you are financially secure will help ensure you can fulfil those goals later in life.