{"data":{"id":"77f60d89-feb8-4ae2-97c5-18dfab7fb0ea","updated_at":"2024-04-08T18:52:20Z","template_id":"73046548-86ec-431a-aca0-75b53bc936f3","localized":{"blocks":[{"id":"5c71c202-2ec6-4ca5-8434-86cdb9b3748d","kind":"richtext","content_html":"

I’m a big fan of Ken Dychtwald and the work his company Age Wave along with Edward Jones and The Harris Poll are doing.

Recently Ken gave a talk “Future of Medicine, Aging And Longevity in a Post-Covid World” and following are some of the valuable highlights from that talk along with some personal insights.

Retiree’s focus should be on long term health.

Currently the US lags behind many countries in both lifespan and healthspan something you wouldn’t expect from one of the most prosperous countries in the world.

“In 2019 the average life expectancy in the US was 78.5 years with 12.4 of those years (the final years) being negatively impacted by illness, injury, or cognitive impairment. Among those 65+, 88% are managing at least one chronic condition and nearly two thirds have two or more chronic conditions.

In the US the average couple needs $10,000 to $12,000 a year for regular medical expenses and then adding in long term care costs a couple needs an estimated $445,000 to cover healthcare costs in retirement which is why healthcare costs have become a retirees largest financial worry.”

My thoughts

Good health offers a freedom few people appreciate until they no longer have it.

Health is one of those things we tend to take for granted until life takes an abrupt turn for the unexpected and health suddenly becomes an issue.

To ignore one’s health in the single-minded pursuit of more money is a foolish proposition because all the money in the world can’t buy back health that has been lost. You can’t put a price on health.

The good news is that research has shown that longevity is impacted up to 80% by a person’s chosen lifestyle. Living longer and healthier comes down to making good lifestyle choices.

We have the power to both increase our lifespan as well as significantly close the gap between our lifespan and healthspan. If you want to learn more on the subject please refer to our book Retirement Heaven or Hell.

The Power of Purpose

Ken also talks about how having a strong sense of purpose in retirement reduces the risk of alzheimers, cardiovascular problems, depression, stroke and disability.

His message is that there is a strong correlation between having a sense of purpose and healthy longevity. People with a stronger sense of purpose have better overall health, greater cognitive functioning, higher life satisfaction, increased mobility functioning and longer lifespans.

Bottom line: Retirees who have a good reason to get out of bed in the morning live longer and are sharper than people who don’t.

My thoughts

When you retire you need to find a way of filling the big hole that was left behind; something that replaces the positive aspects of a career; something that is challenging and meaningful; something that gives you a sense of achievement or you are not going to be very happy and unhappy people don’t live long.

Purpose comes in many different shapes and sizes and most retirees have more than one.

Retirees find purpose from taking care of a garden, providing eldercare, taking care of a cat, going back to school, learning how to fly fish, training for an Ironman, starting a new business or doing volunteer work. It’s ok to do a job to generate a little extra “fun money.” The key is to do whatever makes you feel good about yourself, whatever makes you feel that you are still contributing and that your life matters.

Living your purpose strengthens your sense of self; it gives you a way to explain who you are to other people. You no longer have to feel embarrassed telling people you are retired when you have a good source of purpose.

People with a strong source of purpose, having something to live for are more likely to take care of themselves – eat healthier, exercise more and go for regular check ups.

When you have a source of purpose, you never get up in the morning wondering what you’re going to do with yourself. There is no time for negativity to seep in because you are busy doing fulfilling, meaningful things.

If you're interested, here's the full video of Ken's presentation;

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Mike Drak is a Senior Contributor at Booming Encore and the Author of the best-selling book Victory Lap Retirement, Retirement Heaven or Hell and Longevity Lifestyle by Design. Along with being an Author, Mike is also an award winning blogger, retirement coach and public speaker and has made appearances on BNN, CBC Radio and iHeart radio. He is a thirty-eight year veteran of the financial services industry and lives with his wife Melina in Toronto, Canada.

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