The Century Club

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The UBS Century Club report, a comprehensive survey of over 5,000 affluent investors across a diverse array of countries, sheds light on this seismic shift in life expectancy expectations and its profound implications on wealth, health, and longevity.

This survey brings forward the intricate dynamics between maintaining one’s health and managing wealth with a long-term perspective. The anticipation of a 100-year life is not uniformly distributed, with notable variations across different regions reflecting cultural, economic, and healthcare system diversities.

This realization amongst investors has ignited a proactive approach towards health investment, with a clear preference for preventive over reactive healthcare measures. However, the enthusiasm for a prolonged life is tempered by financial anxieties, particularly concerning healthcare costs, wealth preservation, and the implications of an extended working life.

This analysis aims to dissect these themes, offering a granular view of how the affluent are navigating the challenges and opportunities presented by the rising prospect of living ten decades. It is a journey through the evolving ethos of longevity, where health emerges as the ultimate wealth and working longer intertwines with the quest for a sustained quality of life.

Let’s dive in …

Longevity Practices

This ambitious expectation, once relegated to the realms of science fiction, is increasingly seen as attainable, underscored by advancements in healthcare, nutrition, and an overall improvement in quality of life. However, this expectancy is not uniform across the globe, revealing significant disparities that speak volumes about the interplay between culture, healthcare infrastructure, and economic stability.

The optimism surrounding centenarian longevity varies widely, with a notable divide between Western and Eastern perspectives, as well as within Europe itself.

For instance, 76% of investors in Germany anticipate reaching the century mark, a stark contrast to the mere 30% in the United States. This variation is not merely a reflection of personal health choices but is indicative of broader societal factors, including access to healthcare, lifestyle habits, and perhaps, the public’s confidence in their healthcare system’s ability to support aging populations.

Several factors contribute to the growing confidence among the wealthy in their ability to live to 100. Advances in medical technology, from genomics to personalized medicine, offer unprecedented opportunities to prevent, detect, and treat diseases that once curtailed human life expectancy. Moreover, an increased emphasis on preventive healthcare, coupled with a surge in health and wellness awareness, has led individuals to adopt lifestyles conducive to longevity.

Wealth not only provides access to superior healthcare but also enables a lifestyle that can significantly reduce the risk factors associated with chronic diseases. It’s a privilege that affords the rich a distinct advantage in the longevity race, raising ethical and equity questions about access to longevity-promoting resources.

Investors are taking proactive steps to mitigate concerns, from adjusting financial plans to investing in health and wellness initiatives. However, the path to 100 is not solely a personal journey but a societal one, requiring structural changes to healthcare systems, pension schemes, and societal attitudes towards aging.

The disparity in longevity expectations underscores the need for a global dialogue on aging, one that addresses not just the medical but the social, economic, and ethical dimensions of living a century-long life. As we stand on the cusp of a longevity revolution, the question remains not just how to extend life, but how to ensure those extra years are lived in health, dignity, and joy.

UBS Century Club Report

The UBS Century Club report reveals a profound reevaluation of the value of health, with 90% of wealthy investors prioritizing health over wealth accumulation.

Several key factors contribute to the wealthy’s increasing focus on health as the ultimate investment:

• Advancements in Healthcare and Technology: Innovations in medical science, including breakthroughs in genomics, biotechnology, and personalized medicine, offer new pathways to prevent, manage, and cure diseases. The wealthy, with their access to cutting-edge healthcare solutions, are uniquely positioned to benefit from these advances.
• Increased Awareness of Lifestyle Diseases: With the rise in lifestyle-related diseases, there’s a growing recognition of the impact of lifestyle choices on long-term health. Wealthy individuals are increasingly investing in preventive measures, including nutrition, fitness, and wellness programs, to mitigate these risks.
• Longevity as a New Social Currency: In a world where longevity is increasingly seen as achievable, living a long and healthy life has become a new benchmark for success among the affluent. This has spurred a willingness to invest heavily in health, viewing it as essential to achieving a fulfilling and prestigious long life.

Wealthy investors are employing a range of strategies to leverage their wealth for health, including:

• Preventive Healthcare: There is a significant investment in preventive care, encompassing regular health screenings, advanced diagnostic tests, and personalized health monitoring, to detect and address potential health issues before they escalate.
• Lifestyle Modifications: Investments aren’t limited to medical interventions but extend to lifestyle changes designed to enhance well-being. This includes spending on nutritionists, personal trainers, and wellness retreats, as well as modifications to the living environment to support a healthier lifestyle.
• Healthcare Innovation: Beyond personal health, there’s growing interest among the affluent in investing in healthcare startups and innovations. This reflects a broader vision of contributing to the advancement of healthcare solutions that can benefit society at large.

This shift towards investing wealth in health has profound implications:

• Redefining Healthcare Consumption: The wealthy’s investment in health is driving demand for more personalized, advanced healthcare services, potentially reshaping healthcare delivery to prioritize customization and innovation.
• Inequality in Health Outcomes: While the wealthy can afford to invest in their health, this raises questions about health equity and access to advanced healthcare for the less affluent. The growing health divide underscores the need for policies that ensure advancements in healthcare benefit all segments of society.
• A New Economic Sector: The focus on health and longevity is catalyzing the growth of a new economic sector centered around health and wellness, encompassing everything from luxury wellness retreats to biotech firms focused on longevity.

This “Wealth for Health” paradigm not only highlights the evolving priorities of wealthy investors but also signals a broader societal shift towards valuing health as the ultimate form of wealth.

UBS Century Club Report

The UBS Century Club report highlights a significant trend: a majority of wealthy investors see extended work life as not just a financial necessity but as a beneficial factor for their health and well-being.

This reflects a broader change in how work is perceived in the context of a longer life.

• Positive Effects on Health: Nearly eight in ten investors believe that working as long as possible is good for health. This sentiment is especially strong in regions like Asia and Switzerland, indicating a cultural dimension to the perception of work’s benefits.
• Financial Security: The financial aspect of working longer is undeniable. With the prospect of living a century, the need to ensure financial stability for a prolonged period becomes paramount. This is driving many to reconsider their retirement age and financial planning strategies.
• Societal and Organizational Impact: This shift has significant implications for society and organizations. It challenges existing norms around retirement age, calls for more flexible and inclusive work environments for older employees, and underscores the importance of lifelong learning and career adaptability.

Several motivations are driving the trend of working beyond traditional retirement ages:

• Seeking Purpose and Fulfillment: Many find purpose and a sense of fulfillment in their professional endeavors. Continuing to work allows them to maintain a sense of identity and contribution to society.
• Maintaining Social Connections: Workplaces are key venues for social interaction. Staying in the workforce helps maintain and expand social networks, which is crucial for mental and emotional health.
• Adapting to Financial Realities: The financial implications of living longer necessitate continued income generation. This is particularly acute given concerns about the adequacy of savings and pensions to support a longer retirement phase.

The emergence of the longevity workforce calls for significant adjustments:

• Policy and Corporate Strategy: Governments and corporations need to rethink policies and strategies to accommodate older workers. This includes reevaluating retirement ages, pension schemes, and creating more flexible, age-friendly work environments.
• Lifelong Learning and Career Development: The concept of lifelong learning gains new urgency in this context. Professionals must continuously update their skills and knowledge to remain relevant in the workforce.
• Healthcare and Well-being Programs: Organizations may need to enhance their focus on health and well-being programs that cater to the needs of an aging workforce, emphasizing preventive healthcare, mental health, and ergonomic workspaces.

This transition, while presenting challenges, offers an opportunity to reimagine work, retirement, and aging in a world where living to 100 becomes the norm. As individuals, organizations, and societies navigate this new landscape, the insights from the UBS Century Club report serve as a valuable guide for embracing the possibilities of a longer, productive, and fulfilling life.

UBS Century Club Report

Wealth is increasingly being viewed through the lens of health and well-being, with affluent investors prioritizing investments in healthcare, wellness, and lifestyle enhancements over traditional wealth accumulation. This shift underscores a broader recognition of health as the ultimate wealth, a cornerstone for achieving a fulfilling century-long life.

The financial implications of a 100-year life are profound, encompassing healthcare costs, the sustainability of wealth over extended periods, and the need for strategic inheritance planning. The report highlights a nuanced approach to financial planning, one that extends beyond mere wealth preservation to include investments in health and well-being. This recalibration necessitates innovative financial products and services tailored to the needs of the longevity economy, as well as a reevaluation of retirement planning, legacy building, and wealth transfer strategies.

The concept of retirement is being redefined in the face of extended longevity. The emerging trend of working beyond traditional retirement ages reflects not only financial motivations but a desire for continued purpose, engagement, and social connectivity. This shift poses significant implications for labor markets, corporate policies, and societal attitudes towards aging and work, calling for a more inclusive, flexible approach to employment and retirement that can accommodate the evolving needs of the longevity workforce.

As we navigate the uncharted waters of century life, the insights from the UBS Century Club report serve as a beacon, guiding individuals, families, and policymakers through the complexities of this longevity revolution.

Carl Jung, Psychiatrist

Longr Reads’ of the Week

• The Future is Advanced (Christian Angermayer)
• Longevity Investments: Opportunity of the Century (Lachezar Zanev)
• Longevity Economy Strategy (AXA Investment Managers)

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