MIT AgeLab and John Hancock Introduce Longevity Preparedness Index for Aging Planning

John Hancock CEO Brooks Tingle stated that awareness is the first step toward change, and taking the quiz shifted his own thinking.

He mentioned people might decide on retirement locations based on factors like fishing quality without considering essential domains like health care quality or social connections in a new town. "The general lack of preparedness struck me," Tingle said, reflecting on the average score of 60.

Data from the Pew Research Center finds most older adults who live at home would prefer to age in place with caregiving support, if given the choice.

Non-medical caregiving, such as meal preparation, housekeeping and personal hygiene assistance, costs on average $80,000 a year. Samara Scheckler of Harvard University's Joint Center for Housing Studies said, "None of us know how long our savings have to last or what our life, health and ability is going to look like," pointing out that the cost of care added to housing creates a dual burden for many families.

Psychologist Laura Carstensen, director of the Stanford Center on Longevity, noted in a survey that common aspirations for living to 100 include avoiding dementia and not running out of money.

She emphasized that a white-knuckled approach to longevity risks crowding out opportunities, and planning can reframe aging positively. "We really need to raise the bar and begin to daydream about what it means to be 100 and doing really well," Carstensen said.

U.S. Is 30 years longer than it was in 1900, when it was 47 years old. Carstensen and her collaborators created The New Map of Life to reexamine societal and educational structures for lifelong learning and thriving. Coughlin said the index aims to start conversations leading to preparedness and action, helping people design years focused on living better, not just longer.

The number of centenarians is expected to quadruple by 2054. The oldest millennials are 45 years old. Keeping people in their homes often involves modifications like minimizing steps, installing handrails or relocating bedrooms and showers to the main floor, changes that can be anticipated in advance.

The survey includes questions like identifying a care provider if needed. Coughlin stated that answering questions about life transitions, community, care and home can help reveal challenges and opportunities. Financial security remains important, especially entering post-paycheck years.

Carstensen said practical concerns matter but can overshadow upsides of longer life. In the longevity space, businesses and influencers focus on extending lifespan, but Coughlin stressed considering what to do with those years. The index prompts thinking about neighborhoods' walkability and social opportunities.

Tingle reflected that he might have prioritized fishing in retirement decisions without the quiz's holistic perspective. Scheckler highlighted that these costs are insurmountable for many families.