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A NEW PODCAST SERIES: RED WINE & BLUE JEANS

A new podcast series: Red Wine & Blue Jeans

Founded, sponsored and hosted by Rob Jones from Shire Retirement Properties and Lynda Smith from Refirement Network, Red Wine & Blue Jeans, is a 6-part series of podcasts that explores how to live the second half of life in the best way possible. Listen to the stories of people who, like red wine and blue jeans, just get better as they age.

Episode 1

To listen to a short conversation between Rob and Lynda about why they wanted to do this series, click here.

Episode 2

Executive Director, Board member and volunteer: Karen Borochowitz from Dementia SA, discusses her journey with her mother who was diagnosed in the early 90’s with dementia at the age of 62. She passed away at 83 after living with dementia for 21 years, a time which had a profound impact on Karen’s life. To listen to the conversation with Karen, click here.

Episode 3

Arthur Case has had a variety of careers. Firstly he worked as a human resources executive. He became a CEO in the pharmaceutical industry and then worked as a consultant. He eventually moved into the retirement industry which he left at the age of 66. Arthur has reinvented himself as an entrepreneur and has more time now to pursue his hobbies, one of them is to explore the world on a motorbike. Listen to Arthur’s story over here.

Episode 4

Dr Jim Leatt had a prestigious career in academia. His fields of interests were religious studies, industrial relations and applied ethics. In 1985 he was Deputy Vice Chancellor and Vice Principle at UCT and in the early 90’s was appointed Vice Chancellor at the University of Natal. In 2008 he was asked to help turn around the University of Venda. In 2021 he published his book: ‘Conjectures – Living With Questions’, which is a written legacy to his lifelong exploration of the meaning of life. Click here to listen to Jim.

Episode 5

Jennifer Webster was diagnosed with Stargardts disease at the age of 10, a juvenile onset form of Macular Degeneration. She managed to complete mainstream schooling and has a BA Honours from Rhodes University. Married with grown up children she now spends her time helping to find solutions and encouraging others along the journey of vision loss.

Listen to Jennifer over here.

Episode 6

Simone Le Hane has come a long way from growing up under apartheid. She attributes her strength and determination to get on in life, to the older women in her family who were wise and feisty roll models. Simone studied at UCT which was the start of her lifelong learning. Her first job was at Shell and she was eventually recruited by the Department of Finance under the new democratic government and in 2000 was instrumental in the creation of the modern national treasury. She has had an illustrious career in the corporate and government sector. Now at 67, she is reinventing the next chapter of her life. Click here to listen to Simone.

 

The changing world of retirement living

The changing world of retirement living

Lynda Smith is the CEO of 50+ Skills and Refirement Networka business involved in helping organisations and Individuals 50+ to understand the opportunities and challenges that the future holds for this demographic group. She is an accredited retirement coach in South Africa through Retirement Options USA.

 

Lynda writes:

“Longevity gifts us with more years and choices that need to be made around life, work, and family. In our parents’ generation the establishment of “old age” homes and nursing facilities were a choice many made as part of their plan beyond their working life. The next generation, known to many as the baby boomers are now aged 56 to 74. They have many more options and choices. Let’s look at what these may be.  In many cases, two generations will be living side by side, but may have quite different needs.

  1. Current Old Age homes that have large numbers of residents 75-100
  2. New Life Rights type villages with cottages and apartments.
  3. New Sectional Title Villages for an Over 50 Market.
  4. Choosing to stay in an inter-generational community close to family.
  5. Remaining in your own home and bringing in services as you need them.
  6. Downsizing from your larger home into something smaller.

This new generation is larger in size and is currently being bombarded with many choices. This generational group has seen the world change greatly over their 56-74 years of life. Each shared cultural moment affected their values, beliefs, and mindsets—creating new generational ideals different from their parents in the Silent Generation. Values like individualism, independence, control, and value define their thinking. Many in this generation are familiar with the concept of “old age” homes as they helped their parents make these decisions and have engaged over the past 20 years in what this model offers. Some of these perceptions may be positive, but many may not be. This can have an impact on sales into this style of living looking to market to the next generation.

Some of the marketing messages that are key for this generation can include the following:

  • Health and Wellness facilities
  • Reliable Fibre Network Solutions
  • Choices around equity and growth of property
  • Security
  • Customized services and personalisation.
  • Care services in their homes on demand
  • Business services
  • Close location to great shopping centres and medical facilities
  • Remaining an active part of the larger community

Within this cohort of baby boomers, the needs will differ. The older group may align more easily with some of the current status quo, but the younger group will demand much more as they enter this market. Managing agents and developers need to be prepared for this potential market.

The challenges from the market are also varied and causing other challenges that need to be addressed. The sale of primary homes is taking longer, and prices have dropped. Sadly, this is the most divorced generation ever to enter this season of life and many cannot afford that current offering. Many have not managed to complete work to the age of 65 for a variety of reasons and this presents less money to invest for this season.  High levies could also be impacting a sale.

There are challenges on both sides of this opportunity and developers and owners of retirement homes, need to do deep research to ensure that there are a range of possibilities that meet the needs of the current market. Please also ensure that your sales teams are equipped and ready to deal with this new generation coming your way.  Individuals need to understand the different opportunities, ask the right questions, and make sound decisions to ensure that this season of life is filled with the best that life has to offer for them.”

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The development of retirement villages is a specialist field and Shire consultants complete the standard professional team of developers who are planning or executing new retirement developments. Click here for details of projects that Shire has contributed to.

 

IF YOU LIVE TO 100, YOU’LL NEED MORE THAN MONEY

If You Live to 100, You’ll Need More Than Money

John F. Wasik wrote on March 6, 2021 for the New York Times:

“If You Live to 100, You’ll Need More Than Money – The number of centenarians in the U.S. is growing steadily. If you join them, you’ll need not just a robust retirement fund but also a plan, and a purpose.

Dani Rizzo and Adam Hoyt are diligently saving for retirement. They’re putting away money each month and monitoring their investments. They’re looking ahead, as a couple, and trying to be socially responsible.

He’s 32, and she is 33, but they wonder: How many years of life could they be looking at, and saving for? Pondering the far-off future “seems daunting,” Mr. Hoyt said.

So with their financial planner, they ran an online longevity calculator. The prediction, based on their family histories, health and lifestyle, popped up: Mr. Hoyt could very well live to 92, Ms. Rizzo, to 94.

Mr. Hoyt, a senior account executive for the Washington Nationals, and Ms. Rizzo, digital director for the Humane Rescue Alliance in Washington, D.C., are looking far beyond the current dark pandemic moment — and toward, they hope, long lives.

Before the pandemic, Americans had an average life span of nearly 79 (76 for men and 81 for women), according to the Centers for Disease Control and Prevention. But centenarians are a steadily growing demographic group — totaling an estimated 92,000 — giving rise to a relatively new approach to retirement preparation known as longevity planning, which combines conventional financial techniques with “life” planning.

While the couple are saving regularly in their individual retirement accounts, they are also envisioning “what we want our retirement to look like,” Ms. Rizzo said. “We have no plans for kids, but travel will be a big piece of what we do.” They also care about investing responsibly, investing in companies that promote racial and gender equity and divesting from fossil fuels.

They are working with James Brewer, a certified financial planner with Envision Wealth Planning in Chicago. While focusing on their savings goals, Mr. Brewer also helped them embrace life planning, which asks: Besides not outliving your money, how can you make your life meaningful in retirement, which could last three decades or more?

Mr. Brewer says longevity is something that can be planned for, and often yields pleasant surprises. “My mother is a Black woman from the Jim Crow South who is 92 and lives independently,” he said. “She never thought she would have lived this long. Fortunately, my dad had pensions.”

The growth in the 100-plus age group is partly a result of better medical care and a combination of improved lifestyle factors. This cohort has expanded 44 percent since 2000, according to a C.D.C. study. Eighty percent of centenarians are women. And in about 40 years, the number of people 100 and older will be six times as high as it is now, according to the Census Bureau.

What enhances longevity? College degrees and continuing education are correlated with it, a Yale and University of Alabama-Birmingham study found. Having a degree doesn’t guarantee you a longer life, but one’s longevity may be augmented by factors such as enlightened self-care, better medical attention and activity later in life.

Genetics also play a significant role. The landmark New England Centenarian Study, begun in 1995, identified genetic markers associated with those living past 100. The researchers, led by Dr. Thomas Perls, a professor of medicine and geriatrics at Boston University School of Medicine, found that these markers over all were 61 percent accurate in predicting who hits 100.

“The genetic component is a factor in 40 percent to 50 percent of people who make it to 100,” Dr. Perls said, “and 70 percent for those reaching 106, but it’s like winning the lottery. Only one in 5,000 Americans make it to the century mark.” And longevity isn’t distributed equally: A Princeton University study in 2012 found that socioeconomic differences can account for 80 percent of the life-expectancy divide between Black and white men, and for 70 percent of the imbalance between Black and white women.

An enlightened attitude and deliberate mental, social and physical activity during retirement also matter. That means continuing to learn new things, staying involved in the community and working to some degree.

Activity is critically important, said Mitch Anthony, a consultant in Rochester, Minn., and author of “Life Centered Financial Planning.” Mr. Anthony, who trains financial planners in life planning, has found that people who embrace what he calls a “new retirementality” do best when they remain socially and mentally vibrant.

In developing a core life-planning philosophy, he said, you will have to ponder answers to three questions: “What do you want out of life, what gives you joy, and how do you pay for it?”

Purpose and meaning throughout life are important, many researchers agree, although it’s hard to pin down on how they improve longevity. One study, published in 2013, suggests that these factors may offer a mental and possibly physical breakwater for life’s many travails.

“Having purpose in life may motivate reframing stressful situations to deal with them more productively, thereby facilitating recovery from stress and trauma,” the researchers found.

When estimating how long one could live and need money, it helps to run some possible outcomes. Most advisers who offer comprehensive financial planning do this, because it’s critical to see how long your money will last given a host of factors. You’ll also need to review some long-term estate planning, Mr. Brewer said.

“A lot can happen over 10 decades, especially over the last three,” he said. “It’s important to review your wealth-transfer and personal wishes annually. While you may still be alive, many of your friends or desired beneficiaries may no longer be alive.”

Mr. Brewer recommends reviewing those beneficiary designations and choosing contingent beneficiaries as well for life insurance, individual retirement accounts, and 401(k) and 403(b) plans. It might also be important to consider the tax benefits of bequeathing assets to a charity you love rather than to a living beneficiary, he added.”

To continue reading this article, click here.

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The Japanese doctor who lived to 105

The Japanese doctor who lived to 105

The goals of improved health and financial security are to live longer and, presumably, more fulfilling lives. Increases in longevity have certainly been impressive and has been a trend worldwide. Not only has 60 become the new 40, but we’re well on our way to the day when 80 becomes the new 60.

Tom Popomaronis, Contributor@TPOPOMARONIS wrote an article for CNBC.com about the Japanese doctor who lived to 105 – his spartan diet, views on retirement, and other rare longevity tips.

Dr. Shigeaki Hinohara had an extraordinary life for many reasons. For starters, the Japanese physician and longevity expert lived until the age of 105.

When he died, in 2017, Hinohara was chairman emeritus of St. Luke’s International University and honorary president of St. Luke’s International Hospital, both in Tokyo.

Perhaps best known for his book, “Living Long, Living Good,” Hinohara offered advice that helped make Japan the world leader in longevity. Some were fairly intuitive points, while others were less obvious:

  1. Don’t retire. But if you must, do so a lot later than age 65.

The average retirement age (at least in the U.S.), has always hovered at around 65. And, in recent years, many have embraced the FIRE movement (Financial Independence, Retire Early).

But Hinohara viewed things differently. “There is no need to ever retire, but if one must, it should be a lot later than 65,” he said in a 2009 interview with The Japan Times. “The current retirement age was set at 65 half a century ago, when the average life expectancy in Japan was 68 years and only 125 Japanese were over 100 years old.”

Today, he explained, people are living a lot longer. The life expectancy for U.S. in 2020, for example, is 78.93 years, a 0.08% increase from 2019. Therefore, we should be retiring much later in life, too.

Hinohara certainly practiced what he preached: Until a few months before his death, he continued to treat patients, kept an appointment book with space for five more years, and worked up to 18 hours a day.

  1. Take the stairs (and keep your weight in check).

Hinohara emphasized the importance of regular exercise. “I take two stairs at a time, to get my muscles moving,” he said.

Additionally, Hinohara carried his own packages and luggage, and gave 150 lectures a year, usually speaking for 60 to 90 minutes — all done standing, he said, “to stay strong.”

He also pointed out that people who live an extremely long life have a commonality: They aren’t overweight. Indeed, obesity is widely considered one of the most significant risk factors for increased morbidity and mortality.

Hinohara’s diet was spartan: “For breakfast, I drink coffee, a glass of milk and some orange juice with a tablespoon of olive oil in it.” (Studies have found that olive oil offers numerous health benefits, such as keeping your arteries clean and lowering heart disease risk.)

“Lunch is milk and a few cookies, or nothing when I am too busy to eat,” he continued. “I never get hungry because I focus on my work. Dinner is veggies, a bit of fish and rice, and, twice a week, 100 grams of lean meat.”

  1. Find a purpose that keeps you busy.

According to Hinohara, not having a full schedule is a surefire way to age faster and die sooner. However, it’s important to stay busy not just for the sake of staying busy, but to be active in activities that help serve a purpose. (The logic is that one can be busy, yet still feel empty and idle on the inside.)

Hinohara found his purpose early on, after his mother’s life was saved by the family’s doctor.

Janit Kawaguchi, a journalist who considered Hinohara a mentor, said, “He believed that life is all about contribution, so he had this incredible drive to help people, to wake up early in the morning and do something wonderful for other people. This is what was driving him and what kept him living.”

“It’s wonderful to live long,” Hinohara said in the interview. “Until one is 60 years old, it is easy to work for one’s family and to achieve one’s goals. But in our later years, we should strive to contribute to society. Since the age of 65, I have worked as a volunteer. I still put in 18 hours seven days a week and love every minute of it.”

  1. Rules are stressful; try to relax them.

While he clearly promoted exercise and nutrition as pathways to a longer and healthier life, Hinohara simultaneously maintained that we need not be obsessed with restricting our behaviors.

“We all remember how, as children, when we were having fun, we would forget to eat or sleep,” he often said. “I believe we can keep that attitude as adults — it is best not to tire the body with too many rules.”

Richard Overton, one of America’s oldest-surviving World War II veterans, would have most likely agreed. Right up until his death at age 112, the supercentenarian smoked cigars, drank whisky and ate fried food and ice cream on a daily basis.

Hinohara might not have approved of Overton’s diet, but, to be fair, Overton did credit his longevity to maintaining a “stress-free life and keeping busy.”

  1. Remember that doctors can’t cure everything.

Hinohara cautioned against always taking the doctor’s advice. When a test or surgery is recommended, he advised, “ask whether the doctor would suggest that his or her spouse or children go through such a procedure.”

Hinohara insisted that science alone can’t help people. It “lumps us all together, but illness is individual. Each person is unique, and diseases are connected to their hearts,” he said. “To know the illness and help people, we need liberal and visual arts, not just medical ones.”

In fact, Hinohara made sure that St. Luke’s catered to the basic need of patients: “To have fun.” The hospital provided music, animal therapy and art classes.

“Pain is mysterious, and having fun is the best way to forget it,” he said. “If a child has a toothache, and you start playing a game together, he or she immediately forgets the pain.”

  1. Find inspiration, joy and peace in art.

According to The New York Times, toward the end of his life, Hinohara was unable to eat, but refused a feeding tube. He was discharged and died months later at home.

Instead of trying to fight death, Hinohara found peace in where he was through art. In fact, he credited his contentment and outlook toward life to a poem by Robert Browning, called “Abt Vogler” — especially these lines:

There shall never be one lost good! What was, shall live as before;
The evil is null, is nought, is silence implying sound;
What was good shall be good, with, for evil, so much good more;
On the earth the broken arcs; in the heaven a perfect round.

“My father used to read it to me,” Hinohara recalled. “It encourages us to make big art, not small scribbles. It says to try to draw a circle so huge that there is no way we can finish it while we are alive. All we see is an arch; the rest is beyond our vision, but it is there in the distance.”


Shire Retirement Properties (Pty) Ltd (Shire) is based in the Western Cape Province of South Africa and specialises in the provision of a range of services focused exclusively on the retirement industry. To read more about our services, click here.

Redesigning Retirement for Longer Working Lives

Redesigning Retirement for Longer Working Lives

This article was written by Martine Ferland and published on LinkedIn on 23 January 2020.

The 2020 World Economic Forum (WEF) in Davos is winding down but earlier today I had the opportunity to participate in a unique Mercer WEF event focused on longevity called, “Redesigning Retirement for Longer Working Lives.”

Let’s be clear. Longevity is one aspect of a brighter future for the world’s workforce, so long as organizations and leadership gets it right. It calls for a change of mindset, adapted healthcare and savings programs, more opportunities for continuous learning and, of course, longer careers. It’s a chance for employers and experienced workers to embrace upskilling, reskilling and continuously adapting.

Today’s event was a novel workshop, very hands-on, with attendees discussing persona-specific solutions that will result in a post-Davos package of materials called, “Redesigning Later Life.” It will include today’s findings and provide a plan for testing and developing the solutions, and calls to action to enable them.

There’s no doubt that longevity is a serious social issue. Life expectancies are increasing globally, and children born today are likely to live beyond the age of 100. That’s 10 years longer than my parent’s generation, and nearly 20 years longer than my grandparent’s generation. It’s good that we’re having conversations about longevity at events like the WEF and back in our organizations, think tanks and policy offices, and even with our families. If you’re not planning for this kind of change – what it means, the different thinking and choices it requires, then you might be left behind.

Already, at many of our clients, the ratio of employees 50 years and older compared to the rest of the workforce has doubled in just five years – with people living and working longer, it’s clear much of our world will look much older in the years ahead.

In partnership with Mercer, the WEF examined data for retirement savings, including both government and company pensions as well as individual savings, from eight major economies. In the US, it is expected that people will outlive their savings by almost 10 years. When you look at Europe, the gap grows to 11.5 years, and in Japan it’s nearly 20 years.

Today, we heard from a number of large employers and policymakers in countries and industry sectors most affected by an ageing population. During the event, they crafted practical solutions to some of our identified personas. For example:

  • Discovering and tapping into ‘transferable’ skills to kick start moving to a more engaging career or starting a side business. This would extend the motive to work longer.
  • Taking on apprentices to jointly develop more sustainable and eco-friendly business models – sharing the later life workload and pressure.
  • Tackling stress at work and potential future health issues through accessible and comprehensive education around lifestyle – in order to protect health and wellbeing.
  • Building awareness for the self-employed, who often miss out on social security and other benefits through a lack of relevant and timely information.

To read the rest of the article, click here.