WHO WANTS TO LIVE FOREVER?

WORDS GEORGINA CROUTH

FOR FANS OF THE 1986 CULT CLASSIC Highlander, that might sound like a rhetorical question because the lead, Connor MacLeod (played by a then dreamy Christopher Lambert), suffered through his immortality with a full head of hair, enviable biceps and magical psychic powers.

For us mere mortals, ageing is inevitable, but since we are living longer than previous generations, the potential for a longer life raises the question: how do we maximise all that time?

In their book The 100-Year Life management expert Lynda Gratton and economics professor Andrew J. Scott explore what one could do with more time on their side, since the 100-year life is within reach.

The traditional notion of a three-stage approach to our working lives – education,

IT’S TIME TO THINK ABOUT WHAT A LONGER LIFE MEANS FOR YOUR HEALTH, WEALTH, WORK AND RELATIONSHIPS

career and then retirement – has collapsed, so planning for longevity means doing things differently.

Research indicates we are living longer than ever in history. The New England Centenarian Study, the world’s largest such study, shows exceptionally old people are becoming more commonplace.

In the UK, the latest census data indicates that there were 15 120 centenarians alive in 2020 (almost double the figure in 2002), despite COVID-19.

People who make it to 100 aren’t just long-living, they often avoid contracting serious illnesses. Gerontologist Tom Perls, the author of the New England study, told Wired magazine that, while age is a major risk factor for many serious illnesses, the adage “the older you get, the sicker you get” is false: he believes “the older you get, the healthier you’ve been”.

A healthy mindset is part of the puzzle. A UBS Investor Watch survey of 4 500 high-net-worth individuals (HNWIs) in the US, Latin America, Europe and Asia published in October 2022, indicated that wealthy investors expect to live the longest, and they are the most willing to sacrifice their wealth for better health.

In Hong Kong, which has among the highest life expectancy in the world, 60 percent of HNWIs are convinced they will live to 100, and their optimism about longevity outstrips that of almost all other countries, including Singapore, Taiwan, and the US.

Ninety percent of prosperous people in Hong Kong believe investing in and caring for their health to be more important than increasing their wealth, which is why they are making wealth and health decisions to support an extra-long life.

Some interesting findings from the UBS survey:

WORKING SMARTER, NOT HARDER HNWIs are working later in their lives, but they’re doing it more sensibly. In Asia, which is known for its work ethic, almost all Hong Kong investors believe that working is good for them. Too much work is frowned upon though, so they scale back with age. They take weekends off, respect holiday time, and turn off their phones and email frequently.

NO PRICE ON GOOD HEALTH Good health takes precedence over abundant wealth for HNWIs, with fears of deteriorating health driving their investment in a longer and healthier life. They are also helping the less fortunate to stay healthy, with 71 percent investing in uplifting healthcare for others. Practising self-care, eating better-quality food, stressing less about finances and working on a growth mindset are all seen as an investment in yourself.

CHANGING INVESTMENT BEHAVIOUR The potential of a 100-year life is changing investment behaviours, with 41 percent of HNWIs adjusting their long-term financial plans, and 37 percent adjusting their spending patterns. Fifty three percent said they have made, or would make, more long-term investment decisions in equities, bonds, healthcare and property.

LEAVING A LEGACY Longevity guides HNWI’s legacy planning, with seven in 10 preparing to give more away while they’re still alive. And yet, despite the pandemic, many investors aren’t taking the actions necessary to ensure successful wealth transfer. UBS says its study showed four in 10 HNWIs don’t have an up-to-date will or wealth-transfer plan. Half aren’t having important conversations to prepare their future heirs. And 46 percent don’t talk openly about financial issues in the family.

PAUL SIGUQA GREW UP IN THE CAPE WINELANDS WHERE HE BECAME ATTUNED TO THE INTRICACIES OF WINE-MAKING. NOW, AS THE OWNER AND PRODUCER OF KLEIN GOEDERUST WINES, HE IS REIMAGING A HISTORICALLY COMPLEX SITE WHILE BUILDING A STRONG LEGACY WITHIN THE LOCAL WINE INDUSTRY