Age 70 is now the new 65

LONGEVITY: DETERMINING WHEN TO LEAVE

- Hardi Swart

For decades, the age of 65 has been seen as the hallmark of retirement. It was the magic number when people bid farewell to the workforce and embraced their golden years. But times are changing. Today, more individuals are delaying retirement, with 70 quickly becoming the new 65.

But why is this happening, and what does it mean for you?

1. Where did 65 come from?

The concept of retiring at 65 originated in the late 19th Century when Germany introduced the first government-funded pension system.

Other countries, like the US, later adopted the age 65 as a benchmark.

At the time, life expectancy was much lower, and few people lived long enough to claim pensions. While it made sense then, it's less relevant today as people live longer, healthier lives.

2. Longevity is reshaping retirement