Our Longevity: No Limits to How Long We Can Live?
Although the average Canadian life expectancy is around 82 years old, more Canadians – 8,230, according to the most recent census – are living to over 100 years of age. Up until recently, researchers believed that the maximum human lifespan was about 115 years old. But according to a recent study, Canadian researchers have shown that there is no plateau in human life, and the human lifespan can be expected to climb far into the foreseeable future.’
Do You Have Financial Longevity? It’s Never Too Late Our lifespans are continuing to grow, which should remind us of the importance of having a wealth plan that prepares us for many years into the future. After all, your investment outlook period might be longer than you think. Consider that an 80-year-old investor could have 20 additional years of investing ahead.
A Little Can Go a Long Way
As you consider the future, don’t underestimate the impact of time and compounded growth on even small amounts that are saved and invested. The chart below shows how small monthly contributions can grow in significance in just a matter of years (illustrative only, assuming a five percent compounded annual rate of return):