By Christie Whitney
Many people think retirement planning begins and ends with a number: “How much do I need to save?”
But preparing for a long life involves much more than your investment portfolio.
Where you live, who you rely on, how you spend your time, and how you plan for future healthcare needs can all have a significant impact on your quality of life as you age.
To help individuals think more broadly about what it means to be ready for a longer life, John Hancock and the MIT AgeLab developed the Longevity Preparedness Index, an online assessment that provides a personalized score and practical suggestions for improvement. As Dr. Joseph Coughlin, Founder and Director of the MIT AgeLab, explains: “Our goal with the Longevity Preparedness Index is to expand the conversation around what it means to prepare well for longer lives by taking a holistic perspective. The results show that taking small but intentional steps — such as planning for a new hobby, starting a fitness routine, or having a conversation about care — can lead to a better future and have a meaningful impact on how we spend our later years.”
What the Quiz Measures
The assessment takes about 10 minutes to complete and evaluates your preparedness across eight key areas:
- Financial security
- Health and wellness
- Home environment
- Caregiving and long-term care
- Social connections
- Community engagement
- Daily activities and purpose
- Life transitions
After completing the quiz, you will receive an overall score along with scores for each category and recommendations for areas that may deserve more attention.
Why This Matters
Many of our clients have already taken important steps toward financial independence. But even the strongest financial plan benefits from thoughtful preparation in other areas.
Questions worth considering include:
- If your health changes, is your home well suited for aging in place?
- Have you discussed your preferences for care with family members?
- Do you have meaningful social connections and activities that bring purpose to your days?
- Have you considered how your spending and lifestyle may evolve over time?
These factors often play just as large a role in retirement satisfaction as investment returns.
Financial Planning Is Only One Piece of the Puzzle
The research behind the Longevity Preparedness Index found that people who work with a financial advisor tend to score higher overall. That makes sense: a comprehensive financial plan can help create the flexibility and confidence needed to address healthcare costs, housing decisions, and other life transitions.
At Rebalance, we believe retirement planning should address both the financial and personal dimensions of your future.
Take the Quiz
You can take the Longevity Preparedness assessment here:
Take the Longevity Preparedness Quiz
It is free, confidential, and takes about 10 minutes to complete.
We Would Love to Discuss Your Results
If the quiz raises questions about your own retirement readiness, your Rebalance advisory team would be happy to discuss the results and how they fit into your broader financial plan.
After all, successful retirement planning is about more than ensuring your money lasts. It is about helping you live well throughout the years ahead.
