Allianz Longevity Project
Longevity isn't about old age. It's about long life. If you had 30 extra years, how would you spend them?
As lifespans continue to stretch, it’s important to consider the prospect of a longer life with a fresh perspective – and a plan.
Living longer isn’t code for “extended retirement.” At the core, it affords us the flexibility to exchange traditional life stages for a customized set of our own. That’s why, in collaboration with the Stanford Center on Longevity (Stanford), Allianz Life Insurance Company of North America (Allianz) developed The Gift of Time, the Allianz Longevity Study, to share the important opportunities and considerations that can emerge when we begin to prepare for a long life.
Did you ever imagine you’d live into your hundreds? According to research trends and insights from Dr. Laura Carstensen at Stanford, it’s possible for some of us.
In addition to her work at the Stanford Center on Longevity, Dr. Carstensen is a professor of psychology and the Farleigh S. Dickinson Jr. Professor in Public Policy at Stanford University. Her research has been supported for more than 20 years by the National Institute on Aging. She is a Guggenheim Fellow, an NIH MERIT Award winner, and a member of the MacArthur Foundation’s Research Network on an Aging Society.
One of the oldest living jazz musicians in the world, Irv has retired several times – unsuccessfully. His love of the saxophone began at the age of 14 and continued to be a part of his life when he worked in dry cleaning. Several decades since that career ended, Irv plays a weekly gig at the Dakota Jazz Club with his bandmates and has no intention of giving it up.
Ten years into their respective careers, Mark quit his dream job at NFL Films and Nives left behind her career as a professional makeup artist and stylist. The plan? To live life on the road while exploring America’s National Parks – and generate sustainable income while doing it. With their professional skills, the pair launched CampTrend.com, an outdoor lifestyle website that features their reviews of campsites and gear.
Tom and Connie were ready for a lifestyle change. When a customer at Tom’s marine outfitter mentioned a recent trend in alpaca farming, he began to research on his own. Thomas Betts left his job, and the Betts sold their home in the city for a farm of their own. What began as a small herd of alpacas has grown to more than 50 and has led to the profitability of their woven wares.
When asked to design their ideal longer life, 49% of Americans prefer a nontraditional path that is unique to their interests.
While Americans are optimistic about the prospect of living an average of 30 extra years, 70% feel financially unprepared to live to 100 and beyond.
Nearly seven in 10 millennials would prefer to "explore, experiment and travel" prior to retirement and follow a different life path.
How much money will you need to save over time to generate your desired income in retirement?
See how establishing a relationship with a financial professional can help make retirement a journey you don't have to prepare for alone.
See how baby boomers around the country are preparing for retirement. Then, take a quiz to determine your financial personality.
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