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Scientists Claim 72 Is the New 30…Who is Financially Prepared for That?

Written By: Alan Schuh | Heritage Retirement Income Planners

Recently an article came out stating that 72 is the new 30 (click here for the article).

Excerpt: “Human longevity has improved so rapidly over the past century that 72 is the new 30, scientists say.  Researchers at the Max Planck Institute for Demographic Research in Rostock, Germany, said progress in lowering the odds of death at all ages has been so rapid since 1900 that life expectancy has risen faster than it did in the previous 200 millennia since modern man began to evolve from hominid species.  The pace of increase in life expectancy has left industrialized economies unprepared for the cost of providing retirement income to so many for so long.”

At first, I scoffed at the thought.  Then I started thinking about the people I meet everyday.  I have been in the retirement planning field for 24 years.  And while I still do not subscribe to 72 being the new 30, I do see a substantial shift in retirement planning.

When I was a kid, parents worked until they were 65, retired with a company pension and social security, and lived in retirement for approximately 15 years.  No problem, not much retirement planning was needed.  They knew exactly what they were going to get and for how long.  When they passed away, they left the house and a few sentimental items to the kids.

Now, I am meeting folks who are facing retirement with no company pension to provide income in retirement.  They have a nest egg or maybe a 401k that they put money into.  It is up to them to figure out how they can make that last a lifetime.  If they spend too much in the early years, they may have to face being broke if they live a long life.

If it is true that people are living longer, and I believe that with the advances in medicine that this is true, people need to begin planning for retirement in their 50s.  They need a plan with guaranteed growth they can count on and an income stream in retirement that will last a lifetime.

Luckily for baby boomers, insurance companies are tailoring solutions to meet these needs.  With the help of an experienced professional, some upfront planning and guarantees, baby boomers can be prepared even if 72 is the new 30!!!

About the Author: Alan Schuh is the President of Heritage Retirement Income Planners and has 24 years of experience in Retirement Income Planning, Capital Preservation & Wealth Transfer Strategies.  He has 4 locations in South Florida and serves all of Florida.  He can be contacted toll free at 855-3ANNUITY or by e-mail at

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