What caught my eye this week.<\/em><\/p>\n I<\/span>f you traveled back to the year 1900 and told people that, in 125 years, adults would live 30 years longer than they did, the late Victorians would be astonished\u2014and likely envious.<\/p>\n Another three decades to work, rest, and play!<\/p>\n Think of all those extra Saturdays down the mines or in the sweatshop factories<\/a> they\u2019d enjoy. And all those extra lumps of coal for Christmas.<\/p>\n Well here we are in 2025 \u2013 expecting to live into our 80s and almost all with lives of far less physical hardship \u2013 and yet it\u2019s rare to read a story about increasing longevity that isn\u2019t tainted with doom.<\/p>\n I agree politicians would struggle to deliver a good news message about a population of older yet healthier citizens remaining productive for many more years. Disinformation is off the charts today.<\/p>\n And yet as Andrew Oxlade writes in This Is Money<\/em><\/a> this week:<\/p>\n Research cited in the IMF\u2019s World Economic Outlook, based on samples in 41 countries, suggested the average 70-year-old in 2022 had the same cognitive ability as a 53-year-old in 2000.<\/p>\n It is a remarkable improvement for such a short period. The report, published last month, suggested such improvements mean those employed at 70 see a 30 per cent uplift in earnings.<\/p>\n<\/blockquote>\n Oxlade explores the financial implications of longer and more productive lives. Like myself, he doesn\u2019t see getting out of work entirely as always the best goal for most people \u2013 or even a possibility for many.<\/p>\n But having a decent Chasing Cows fund<\/a> brings more than just an all-out card:<\/p>\n Optionality can help future-proof you from the stick of rising pension ages. And it is always good to have options, as you don\u2019t know how you will feel about life and work in the future.<\/p>\n<\/blockquote>\n In any event it\u2019s hard to see \u2013 and given the implications, you wouldn\u2019t want to see \u2013 State pension ages not being higher in the future.<\/span><\/p>\n Indeed Denmark has just raised its retirement age to 70 \u2013 the highest in Europe.<\/p>\n The BBC<\/a> reports:<\/p>\n Since 2006, Denmark has tied the official retirement age to life expectancy and has revised it every five years. It is currently 67 but will rise to 68 in 2030 and to 69 in 2035.<\/p>\n The retirement age at 70 will apply to all people born after 31 December 1970.<\/p>\n<\/blockquote>\n Meanwhile the age at which you can claim a UK state pension will start to rise again next year. It will hit 67 by March 2028.<\/p>\n I\u2019m caught squarely by the move, unlike my co-blogger the wizened old Accumulator<\/em>.\u00a0 He\u2019s just snuck under the wire.<\/p>\n Good for me! Personally I\u2019ll be delighted at having to wait a couple more years to access my State pension if that\u2019s the cost of having a few more years to enjoy this beautiful planet.<\/p>\n Cynics will retort that I say this from a position of privilege. I\u2019ve got my (hard saved and carefully invested\u2026) capital at my back. I don\u2019t expect to retire into near-poverty after a hard life of earning nothing much.<\/p>\n That\u2019s true. But firstly to some extent you make your own luck \u2013 we all understand around here the power of saving even small amounts over a lifetime. (Remember the Tin Can millionaire<\/a>? He was Swedish, incidentally.)<\/p>\n Secondly, I\u2019m not convinced that the happiest people are always those with the most money.<\/p>\n We all know counterexamples \u2013 people who seem to get by on little more than thin air with a relish for life \u2013 albeit I\u2019d rather not take my chances with them!<\/p>\n Your mileage may vary. Fair enough. But do you really want to be thinking like the person quoted in The Guardian<\/a><\/em> headline this week who called the pressure to delay retirement: \u201cLudicrous and unfair\u201d<\/em>?<\/p>\n From the article:<\/p>\n Although some thought the IMF\u2019s idea was good, an overwhelming majority expressed outrage, typically describing the concept that older people should retire later to ease fiscal pressures as \u201cdisgusting\u201d, \u201cludicrous\u201d and \u201cunfair\u201d.<\/p>\n \u201cSeventy is not the new 50. That\u2019s propaganda,\u201d said a 63-year-old NHS admin worker from Dundee. \u201cHaving worked since the age of 18, retirement cannot come soon enough for me. I find travelling for work stressful and long for a time when my days are my own. I am tired.\u201d<\/p>\n<\/blockquote>\n For many more working class people, retirement will indeed be a relief.<\/p>\n But I question whether it will be the panacea they hope for, given they\u2019re mostly going to be financially pressured, and that in at least some cases they lacked the imagination to see it coming for the past four decades.<\/p>\n It\u2019s a great thing we\u2019re living longer, healthier lives. Let\u2019s plan for it and look forward to it.<\/p>\n Let\u2019s invest as if we\u2019ll make it to 100<\/a>!<\/p>\n Have a great weekend.<\/p>\n Investing for beginners: risk versus reward \u2013 Monevator<\/a><\/p>\n Buying The Living is Yield-y<\/em>: a natural yield model portfolio \u2013 Monevator<\/a><\/p>\n From the archive-ator: Why you should write a will \u2013 Monevator<\/a><\/p>\n The FT no longer allows access to articles via search. Paywalled articles noted.<\/em><\/p>\n UK inflation surges to 3.5% on April bills shock\u2026 \u2013 Sky<\/a><\/p>\n \u2026but typical energy bill will fall by \u00a3129 from July, says Ofgem \u2013 Sky<\/a><\/p>\n Starmer confirms U-turn on winter fuel payment cuts \u2013 Guardian<\/a><\/p>\n Trump threatens 50% tariffs on EU and 25% on smartphones \u2013 BBC<\/a><\/p>\n Reeves suggests no cut to total \u00a320,000 ISA limit, but cash ISAs still in play \u2013 This Is Money<\/a><\/p>\n Londoners working from home could boost pension pot by \u00a3236,000 \u2013 City AM<\/a><\/p>\n Moody\u2019s downgrades US credit rating, citing growth in government debt \u2013 CNBC<\/a><\/p>\n UK\u2019s 50 richest families own more wealth than 50% of the population, study finds \u2013 Guardian<\/a><\/p>\n Kensington and Chelsea house prices fall to lowest level since 2013 [Paywall]<\/em> \u2013 FT<\/a><\/p>\n New trade deal to reset relations with EU\u2026 \u2013 Sky<\/a><\/p>\n \u2026almost a decade after Brexit nearly broke them \u2013 CNN<\/a><\/p>\n \u2026though predicted \u00a39bn boost is only a 0.3% offset to the long-run 4% p.a. hit to GDP [Paywall]<\/em> \u2013 FT<\/a><\/p>\n \u2026and success will depend on whether promises are delivered \u2013 Sky<\/a><\/p>\n \u2026because, like octopus, the latest UK-EU deal is a mixing blessing \u2013 BBC<\/a><\/p>\n Recall 55% of Britons polled in January thought Brexit a mistake. Only 11% saw success \u2013 YouGov<\/a><\/p>\n UK\u2019s first new current account in three years pays 3.25% \u2013 T.I.M.<\/a><\/p>\n A closer look at two new 100% mortgages \u2013 Which<\/a><\/p>\n Mortgage rates \u2018set to creep up\u2019 on jump in UK inflation \u2013 Property Industry Eye<\/a><\/p>\n Get up to \u00a31,500 cashback when you transfer your cash and\/or investments through this link<\/a>. Terms apply \u2013\u00a0Charles Stanley<\/a><\/p>\n Mastercard to pay out \u00a3100m to millions of customers \u2013 This Is Money<\/a><\/p>\n Are private medical insurance perks worth it? \u2013 Which<\/a><\/p>\n Santander axes debit card cashback \u2013 Be Clever With Your Cash<\/a><\/p>\n Get up to \u00a34,000 when you transfer your ISA to InvestEngine our link<\/a>. (Minimum deposit of \u00a3100, other T&Cs apply. Capital at risk) \u2013 InvestEngine<\/a><\/p>\n UK-wide parking app to be rolled out after pilot scheme \u2013 Guardian<\/a><\/p>\n The best restaurant discount restaurants and apps \u2013 B.C.W.Y.C.<\/a><\/p>\n Homes for sale with access to coastal paths, in pictures \u2013 Guardian<\/a><\/p>\n Innovation and stock market bubbles \u2013 Verdad<\/a><\/p>\n Owners of second homes in Wales are having to sell up. That\u2019s a godsend \u2013 Guardian<\/a><\/p>\n Teach kids about money early \u2013 Humble Dollar<\/a><\/p>\n You can\u2019t put a price on mental freedom \u2013 Of Dollars and Data<\/a><\/p>\n 30 great quotes from financial history \u2013 CFA Institute<\/a><\/p>\n How sequence risk can derail your retirement, with Wade Pfau [Video]<\/em> \u2013 YouTube<\/a><\/p>\n Scar tissue \u2013 Best Interest<\/a><\/p>\n Life is about trade-offs \u2013 A Wealth of Common Sense<\/a><\/p>\n The (still) Simple Path to Wealth<\/a> [Podcast]<\/em> \u2013 Morningstar<\/a><\/p>\n New international standards coming measuring GDP and inflation \u2013 K.O.I.<\/a><\/p>\n Why the bond market is barfing \u2013 Axios<\/a><\/p>\n New 30-year gilt pays 5.375% \u2013 This Is Money<\/a><\/p>\n The curse of understanding finance \u2013 We\u2019re Gonna Get Those Bastards<\/a><\/p>\n Why interest rates are shooting up all around the world [Podcast]<\/em> \u2013 Bloomberg<\/a><\/p>\n The bond market is not amused \u2013 The Bond Dad<\/a><\/p>\n The Japanese government bond market is in trouble [Paywall]<\/em> \u2013 FT<\/a><\/p>\n The hardest day to invest is always today \u2013 Ted Seides<\/a><\/p>\n S&P 500\u2019s earnings momentum brightens as tariff-induced cuts dwindle \u2013 Sherwood<\/a><\/p>\n Create a Python script to automate portfolio rebalancing [Research, nerdy]<\/em> \u2013 SSRN<\/a><\/p>\n Strict rules haven\u2019t helped this market-timing ETF [US but interesting]<\/em> \u2013 Morningstar<\/a><\/p>\n Hype Machine: Inside the Cult of Crypto<\/em>\u00a0by Joshua Oliver \u2013\u00a0\u00a30.99 on Kindle<\/a><\/p>\n The Price of Money<\/em>\u00a0by Rob Dix \u2013\u00a0\u00a30.99 on Kindle<\/a><\/p>\n The Great Crashes: Lessons from Global Meltdowns<\/em>\u00a0by Linda Yueh \u2013\u00a0\u00a30.99 on Kindle<\/a><\/p>\n Failed State: Why Britain Doesn\u2019t Work<\/em>\u00a0by Sam Freedman \u2013\u00a0\u00a30.99 on Kindle<\/a><\/p>\n Or pick up one of the all-time great investing classics \u2013\u00a0Monevator<\/em>\u00a0shop<\/a><\/p>\n The right\u2019s opposition to renewables is anti-scientific and anti-economic \u2013 Paul Krugman<\/a><\/p>\n Using thermal drones to help protect Australian tree kangaroos \u2013 Yahoo<\/a><\/p>\n How an idealistic tree-planting project turned into Kenya\u2019s toxic, thorny nightmare \u2013 Guardian<\/a><\/p>\n Batteries that absorb carbon emissions one step closer \u2013 The Conversation<\/a><\/p>\n The siren song of advertising \u2013 Generative Value<\/a><\/p>\n AI and work: some predictions \u2013 Cal Newport<\/a><\/p>\n The Agentic Web and original sin \u2013 Stratechery<\/a><\/p>\n AI agents will do the grunt work of coding \u2013 Axios<\/a><\/p>\n China has taught AI to lie \u2013 Pete Warden<\/a> [h\/t Abnormal Returns<\/a>]<\/em><\/p>\n Is the US a \u2018high-level equilibrium trap\u2019? \u2013 Noahpinion<\/a><\/p>\n Trump orders the government to stop enforcing rules he doesn\u2019t like \u2013 W.P. via MSN<\/a><\/p>\n Guess who\u2019s coming to dinner with $TRUMP \u2013 Sherwood<\/a><\/p>\n Man in Norway wakes to find huge container ship in his garden \u2013 BBC<\/a><\/p>\n The value of institutional memory \u2013 Tim Harford<\/a><\/p>\n Nobody reads \u2013 We\u2019re Gonna Get Those Bastards<\/a><\/p>\n Inside China\u2019s \u2018stolen iPhone building\u2019 [Paywall]<\/em> \u2013 FT<\/a><\/p>\n Why money and power affects male self-esteem \u2013 BBC<\/a><\/p>\n How one tiny ancient language spread across the world \u2013 Slate<\/a><\/p>\n Turn every page \u2013 Brad Feld<\/a><\/p>\n \u201cThey\u2019re not paying me enough to care\u201d<\/em> \u2013 Seth Godin<\/a><\/p>\n \u201cNever buy anything from someone who is out of breath.\u201d Like these links? Subscribe<\/a> to get them every Saturday. Note this article includes affiliate links, such as from Amazon<\/a> and Interactive Investor<\/a>.<\/em><\/p>\n\n
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Still crazy after all these years<\/h3>\n
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From Monevator<\/h3>\n
News<\/h3>\n
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<\/a><\/p>\nBrexit episode 34394394939 mini-special<\/h3>\n
Products and services<\/h3>\n
Comment and opinion<\/h3>\n
Government bond mini-rout mini-special<\/h3>\n
Naughty corner: Active antics<\/h3>\n
Kindle book bargains<\/h3>\n
Environmental factors<\/h3>\n
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<\/a><\/p>\nRobot overlord roundup<\/h3>\n
Not at the dinner table<\/h3>\n
Off our beat<\/h3>\n
And finally\u2026<\/h3>\n
\u2013 Burton Malkiel, A Random Walk Down Wall Street<\/em><\/a><\/p>\n