Figures just released by La Trobe Financial highlight the fact that life expectancy in Australia is extending by three months each year.

This is great news to those of us hoping for a long and healthy life but it does create its own issues.

Currently, there are about 2.1 million people aged over 70. By 2020, there will be 3 million. And that is before the tidal wave of baby boomers begins to make its presence felt.

There is a real question as to whether there will be enough aged care beds to look after all these people and just to keep up with demand, an extra 8,500 aged care beds will need to be constructed across Australia every year for the next decade – and then the real pressure begins.

There is also the realisation that a longer life expectancy increases the pressure on the funds that are available post retirement and regardless of what means are used to increase the pot of gold that will be available – property investment, managed funds, superannuation and so on – it is critical that a plan is put in place.

FinancialPlus can of course help with property investment strategies but can also assist with referrals to experts in the field of superannuation and financial planning.

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