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	Podcast:		Lazy Money Machine Podcast
	Episode:		LMM15: Are You Prepared to Live a 100 Year Life?
	Category:		Business
	Duration:		00:09:44
	Publish Date:		2017-10-18 03:03:00
	Description:		The 100 Year Life is a book written by Lynda Gratton and Andrew Scott. The book challenges us to think about what life is going to be like if we live to 100 (and beyond). The key here is if we live to 100. The data shows that 50% of kids born in 2007 will live to 103-107 (varies by country). I say “challenges” us because as we discuss in this podcast episode, we don’t get time to think about the implications of this. If you live to 100+ and are saving 10% of your income every year into some form of traditional retirement fund you will have to work until you’re 80 (at least) to be able to retire on 50% of your final salary. Think about that. Most people will have to work until they’re 80 to be able to retire on a comfortable income. Most won’t think about it. Most will “go with the flow” because that’s the system set up for us. Unfortunately, that system was designed 70 years ago where the average person didn’t live past 70 so the “100 Year Life” was never an issue. Erik and I believe you have to take matters into your own hand. You can’t rely on the system to look after you in your old age. You can’t rely on traditional pension planning. That’s why we’re into real estate investing.
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