Life and longevity, reimagined
Help clients live their best lives
People are living longer, and they’re looking for ways to live better along the way. Financial professionals can help their clients seize the opportunities longevity brings.
"Living longer is a blessing. We help people take advantage of it with real solutions that help them live their best life throughout their personal journey."
Research on longevity
We wanted to better understand how longevity impacts work, finances, and well-being during people’s lives. So, we partnered with MIT AgeLab and conducted exclusive research through a national survey and focus groups. The resulting white paper explores cycles of change that clients may experience throughout their lives, and insights on how financial professionals can help clients make choices that benefit their future selves.
"Realizing this gift of extra time requires imagining the possibilities, safeguarding our health, financial planning — and abandoning outdated stereotypes about aging. Our daily decisions and long-term preparations will greatly influence our success."
Making the most of life
A longer lifespan requires new ways of thinking about different life stages. Lives aren’t simply divided into eras of learn, work, and retire the way that they were before. Based on their research, Transamerica and MIT AgeLab have proposed a new decision-making model that can be applied throughout one’s life: Anticipation, Preparation, and Celebration. It can help financial professionals and their clients have important conversations as they work to create the future they want.
Anticipation
Being aware of longevity, its opportunities, and the challenges, wants, and needs experienced at different times in life.
Preparation
Identifying and taking action in areas that result in being able to take advantage of opportunities and meet important goals.
Celebration
Enjoying achievements and living one’s best life at every stage with a positive outlook, social connections, and ongoing engagement.
Work
People’s careers are becoming more complex as they have more jobs and careers than previous generations. So, they may need to learn new skills or decide to take a larger span of time off mid-career. These changes will likely affect how long people work and the strategies they’ll need to reach their financial goals.
Finances
Recent research shows that saving for retirement continues to be at least “somewhat” important for most people (92.1%).* People also recognize that saving enough money to fully retire is a challenging goal, especially with competing priorities. Financial professionals can point clients to products and tools to help achieve their goals, now and in the future.
Well-being
Well-being is a key element to living the best life possible, and includes physical and emotional health, social connection, a sense of purpose, and satisfaction with our lives today and in our imagined future. This presents an opportunity to help people financially prepare to improve or sustain their wellness throughout their lifetime.
Resources
See anticipation, preparation, and celebration in action
Relocating in retirement: Assessing livability for clients
Seven questions to assess your "where" in retirement
"We’re looking forward — beyond our legacy of more than 100 years — to continue keeping our promises to you, supporting your financial goals to help you live your best life, and being a partner you can count on."
