The number of centenarians is expected to quadruple by 2054. MIT AgeLab director Joe Coughlin says planning for aging requires more than just saving for retirement. He and his collaborators developed a comprehensive tool called the Longevity Preparedness Index to help people assess life decisions beyond savings alone. The quiz is free online and takes around 15 minutes to complete. Each person’s score is determined by answers across eight domains, including relationships with family, friends and community, health and daily activities.
➡️ Awareness is the first step. The survey includes uncomfortable questions, such as whether you know who you would want to be your care provider if needed. Answering questions about life transitions can reveal the challenges you could face.
➡️ Savings are still important. One of the hardest challenges people face is deciding if they can afford their cost of living. For people who want to age in place with caregiving support, nonmedical caregiving like meal preparation and housekeeping can cost, on average, $80,000 a year.
➡️ Planning ahead can help reframe aging. By proactively anticipating and adapting to the inevitable physical changes of aging, people are able to envision the possibilities. The goal is not just to live longer but also to enhance the quality of your life. |