It is widely known that investors should start planning for retirement as early as possible. When it is time, after decades of accumulation, to decide how you’ll turn these hard-earned savings into income and enjoy what you’ve always dreamed of doing, the planning doesn’t end there. It’s important to regularly review your withdrawal strategy and make adjustments as needed to keep changing economic conditions—especially inflation—from throwing you off track.
A study published in the international medical journal “The Lancet”, based on data from the United Nations, shows that between 2022 and 2050, global average life expectancy at birth is expected to rise from 73.6 to 78.2 – that’s an increase of 4.6 years.1 Six Asian regions already boast an average life expectancy that exceeds 80 years, signalling that living beyond 80 is becoming the new norm. In particular, Hong Kong surpasses Japan as having the highest life expectancy in Asia (Table 1). 2 Therefore, effective retirement planning, such as maintaining good physical health and selecting a suitable retirement location, is crucial for ensuring a fulfilling life in the 20-plus years that follow retirement. According to 2023 United Nations data, Hong Kong's average life expectancy at birth reaches an impressive 85.5 years, followed by Japan at 84.7 years. Across Asia, South Korea stands at 84.3 years, Singapore at 83.7 years, while Mainland China, Malaysia and Vietnam have life expectancies of 78, 76.7 and 74.6 years, respectively. Table 1 Region Life expectancy at birth (years) Monaco 86.4 Hong Kong SAR 85.5 Japan 84.7 South Korea 84.3 Singapore 83.7 Macau SAR 83.1 Taiwan region 80.6 Mainland China 78 Malaysia 76.7 Vietnam 74.6 India 72 Indonesia 71.1 Philippines 69.8 Table 2 Region Healthy life expectancy at birth (years) Singapore 73.65 Japan 73.4 South Korea 72.45 Mainland China 68.58 Vietnam 65.35 Malaysia 63.95 Indonesia 60.67 Philippines 58.77 India 58.15 Global life expectancy is steadily rising, but longevity doesn't always equate to good health — living longer could mean spending more years in poor health. Take Singapore as an example: while the average life expectancy is 83.7 years, Table 2 reveals that the expected healthy life expectancy is only 73.65 years.3 The data suggests that, on average, Singaporeans spend nearly a decade dealing with health challenges. In fact, over the last 20 years, the gap between how long people live (lifespan) and how long they stay healthy (healthspan) has grown to 9.6 years on average in 183 World Health Organization member states. This gap is wider for women, who live about 2.4 years longer in poor health compared to men. This is due to the growing impact of chronic diseases.4 Lifestyle choices play a crucial role in determining both lifespan and healthspan. Another medical study found that among the elderly Chinese (65 and older) who adopt a healthy lifestyle, even later in life, could reduce their mortality risk and increase their life expectancy.5 This highlights the importance of healthy living habits for extending your lifespan, especially among those with high genetic risk factors. Therefore, even at the age of 70, individuals can actively improve their healthspan, significantly enhance their quality of life, and make the next chapter more fulfilling. 1 Burden of disease scenarios for 204 countries and territories, 2022–2050: a forecasting analysis for the Global Burden of Disease Study. (2021). The Lancet. Volume 403, (Issue 10440), P2204 – 2256. Available at: https://www.thelancet.com/journals/lancet/article/PIIS0140-6736(24)00685-8/fulltext 2 World Population Prospects 2024. (2024). The Population Division of the Department of Economic and Social Affairs at the United Nations. Available at: https://www.un.org/development/desa/pd/world-population-prospects-2024 3 Healthy life expectancy (HALE) at birth (years). (2021). World Health Organization. Available at: https://www.who.int/data/gho/data/indicators/indicator-details/GHO/gho-ghe-hale-healthy-life-expectancy-at-birth 4 Armin Garmany and Andre Terzic. (2024). Global Healthspan-Lifespan Gaps Among 183 World Health Organization Member States. JAMA Network (Volume 7) Issue12. Available at: https://jamanetwork.com/journals/jamanetworkopen/fullarticle/2827753 5 Healthy lifestyle in late-life, longevity genes, and life expectancy among older adults: a 20-year, population-based, prospective cohort study.(2023) The Lancet Healthy Longevity. Volume 4, (Issue 10), e535-e543. Available at: https://www.thelancet.com/journals/lanhl/article/PIIS2666-7568(23)00140-X/fulltextLife expectancy and healthy life expectancy
Global average life expectancy at birth
Average healthy life expectancy at birth in Asia