25.09.2023 – 07:12

What changes when we fulfil the dream of living longer?

Anna Mara, Swiss Fintech Ladies

What changes when we fulfil the dream of living longer?

Longevity is on everyone's lips at the moment. We humans are getting older and older and there is a danger that we will be left without financial means in old age if we do not take precautions.

There are several things you should consider in this regard. Here we turn our attention to health care costs.

As we get older, health care costs tend to increase significantly. This is because older people need medical care and prescription drugs more often. Hospital stays, doctor's visits, therapy sessions and even nursing homes can be significant financial burdens. Besides, as a woman gets older, she wants to enjoy life, travel and be fit, so a healthy lifestyle and additives are also very important. Nutrigenomics has opened up future-oriented avenues. Individualised nutrition profiles could prevent diseases and maintain good health. After all, we all want to grow old and older. Better aging is the keyword here. Professor Martin Kussmann is head of the Nestle Institute for Health Science (NIHS) in Lausanne. He conducts intensive research on these topics and explains what is already possible today with nutrigenomics. The good news right away. We are not determined by our genes alone. The assertion that disease is genetic is no longer fully tenable, as nutrigenomics can be used to counteract this very well. We have no more genes than a fruit fly, says Prof. Kussmann. You can find an interesting interview with him here https://www.rosenfluh.ch/ernaehrungsmedizin-2016-03/die-gene-allein-bestimmen-nicht-ueber-gesundheit-oder-krankheit.

So what does a woman need for better aging. Adequate health insurance is crucial to mitigate the financial impact of health care costs. It is also best to have budgeted for long-term care costs, as long-term care can also lead to significant costs in old age. Taking out long-term care insurance early can also help cover these costs, but they need to be taken out early to be effective. Financial planning should also take into account the possibility of needing long-term care.

How can you make provisions?

To protect yourself from unexpected health care costs, it is advisable to set up an emergency fund. This fund should contain sufficient funds to cover unexpected medical expenses without jeopardising your financial stability.

In any case, it is advisable to set up lifecycle financial planning at a young age. After all, at the beginning of her career, a woman can still invest more riskily; the older you get, the safer your money should be invested. A budget for health costs is a must for old age. And you should also have liquidity for about 3 years in order to have financial protection against imponderables. Health costs in old age are also part of this.

One of the most effective strategies to limit health costs is preventive medicine. By taking care of your health and maintaining a healthy lifestyle based on the individual nutrogenomics diet plan, you can reduce the risk of costly health problems. Reduce health care costs and promote financial longevity. For example, regular walking helps against many diseases of civilisation, including Alzheimer's disease. Even those who are already ill can slow the progression of forgetfulness with regular walks. As little as eight kilometres of slow walking per week help to maintain brain volume and thus memory for longer.

Living a long, healthy life, still being fit at 80 or 90 and ageing without serious illnesses - this is what many people wish for. In fact, there are a number of things you can do to stay mentally and physically fit into old age. The word longevity comes from English and has been a common term for a long time, especially in North America. However, longevity does not only mean a long life as such, but it is rather about staying healthy for a longer time, about fitness and health until old age and how these aspects can be achieved. The goal of longevity medicine is thus to align the health span with the life span. And finances also have to keep up. For many, this is a great challenge. Finances also have to be aligned with the lifespan, and you can't start early enough. That is why the issue of the pension gap for women is also highly topical.

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Karen Wendt

President of SwissFinTechLadies