The following is a guest post from Chris Rice. If you would like to write an article for Money Q&A, please visit our Guest Posting Guidelines page.
During the Roman Empire, Romans had an approximate life expectancy of 22 to 25 years. In 1900, the world life expectancy was approximately 30 years and in 1985 it was about 62 years. Nowadays, in the 21st century, life expectancy for those living in a first world country like here in the United States has greatly increased.
Life expectancy rose dramatically amongst the world’s wealthiest populations from around 50 to well over 75 years. This increase can be attributed to a number of factors including improvements in public health, nutrition and medicine. Vaccinations and antibiotics greatly reduced deaths in childhood, health and safety in manual workplaces improved and fewer people smoked.
Thanks to healthier lifestyles and breakthroughs in medical technology, life expectancy for Americans has increased significantly during the past half-century. While it’s good news that you can expect to live longer in retirement and have a better quality of life, it also means your investment portfolio may need to last for 30 years or more.