The 100-year Life book shares that as human lives are lengthening, most of us will not be able to retire at the age our parents or grandparents used to do due to finances.
Why it matters
- Many children in rich countries today can expect to live up to or more than 100.
- The life structure of education-work-retirement is outdated. It will create a super long work period where most workers can become obsolete if they rely solely on their initial education.
- As we live longer, the retirement period prolongs beyond what many can afford.
- A more extended working period may sustain finances. However, it takes a toll on mental, health, and relationship wellness.
- Career paths and life decisions in the past won’t work for us anymore. We will have to make different choices that fit our life stages.
Change our mindsets
Our traditional mindset about life is no longer as relevant as before. Adopting a new way of living will help us live well and value our new longevity. Below are a few principles I’ve found helpful from the book:
- Have control over our own lives, not be controlled by enterprises and employers.
- Embrace flexibility and freedom. Be willing to explore new ways of thinking. See the world from different perspectives.
- Learn to re-specialize, as a single specialization will no longer be sufficient to support such long working careers.
- We can be job creators, not only job seekers.
- Learn that there are changes in the dynamics of power. Age seniority no longer means everything. The old can learn from the young, and vice versa.
- Understand that the more we consume and desire material goods, the more years we will spend working.
- Family, friendships, mental health, and happiness are crucial components to keep us going.
Take actions to live well in our longer lives
The book illustrates a few action steps for us to better plan and prepare for our longer careers:
- Give ourselves time to explore the world and learn how we can bring value.
- Invest more of our financial assets to help to support our longer lives.
- Re-shape how we spend our leisure time. Focus less on consumption and recreation and more on investment and re-creation.
- Re-learn and re-skill to maintain productivity continuously throughout our lives.
- Learn the areas where humans will have an advantage over robots and technology. For instance: development of ideas and creativity; enablement of human skills and empathy; and development of mental flexibility and agility.
- Build our reputation, not only skills and knowledge. Reputation can stem from not only credibility and productivity but also character and values.
- Interact with an ever broader and more diverse network to shift your perspective and open up new possibilities.
- Build and adopt a portfolio consisting of multiple activities that earn enough, build reputation, develop skills, and provide a sense of purpose.
The multi-stage life will focus less on single retirement age and instead support different working practices across all ages. We will have the opportunities and powers to make our own choices about how we want to live. We can plan our lives around our own unique needs, aspirations, wishes, and desires.
How will you plan your 100-year life? What could the next stage of your life be like?
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