By Russ Hill, CFP®, AIFA®, Executive Chairman
Key Takeaways
- The Sibyl’s mistake wasn’t asking for a longer life; it was failing to plan for it. Greek mythology’s cautionary tale highlights the risks of focusing on lifespan without considering health, adaptability, and quality of life.
- Living longer and living better are not the same thing. Longevity planning requires more than extending life expectancy; it involves creating a framework for fulfillment, resilience, and well-being over time.
- The biggest longevity questions aren’t just financial. Planning for a 100-year life also means considering purpose, learning, relationships, work, and how you want to spend those additional years.
What Greek Mythology Can Teach Us About Longevity Planning
According to legend, the Greek god Apollo once fell in love with a mortal priestess from Cumae (known to us as ‘The Sibyl’), whom he promised to grant any wish. Without hesitating, the Sibyl picked up a handful of sand from the seashore, and asked the god to grant her one additional year of life to match each grain.
Without knowing the precise dimensions of the Sibyl’s hand, that’s approximately 10,000 years of life.
Apollo was vexed by her request, as she had forgotten to ask for perpetual youth. The legend relates that the Sibyl slowly withered away over time, until she had to be kept in a jar that was hung in the temple of Apollo at Cumae. The god’s gift had become a curse.
As a financial advisor, I feel that the standard telling of this tale understates the magnitude of the error. Think about it: a multi-century liability for unfunded long-term care, from the rising costs of caregivers to eventual jar maintenance, with no apparent strategy to protect her assets from inflation. Not to mention the fact that her peak earning years were confined to the first few centuries, while prophecy was still a growth industry.
All of the above could be avoided by thinking through the opportunities and risks of longevity.
Maximization versus Optimization
If things continue on their current path, a 100-year life might become the norm, not the exception. This means that the above story of the Sibyl is increasingly relevant to all of us.
The issue of longevity is frequently misunderstood as a straightforward question of adding years to life (= Maximization). This is the realm of “bio-hacking” – hyperbaric oxygen chambers, NAD+ boosters, and cellular regeneration. All fascinating stuff, no doubt, and (some of it) highly worthwhile. But maximizing life is not the same as optimizing it.
The latter involves not just addressing the bare mechanics of aging, but also the underlying challenges associated with a longer life, in a world where nothing seems to stay put like it used to, for any length of time.
How to finance it, how to adapt one’s skills, and most importantly of all – WHAT to do with it – these are not addressed by miracle anti-ageing pills or telomere research.
Even today, it’s not uncommon for financial advisors to ask retiring couples what it is they want to do after the world cruise – and hear silence. You can’t make the best of life if you don’t know what a good life looks like for you.
Starting the Conversation Around Longevity Planning
The purpose of this blog is to address this gap in the conversation. It’s based on a book I published called Optimizing Longevity: A Road Atlas for A Happier, Less Predictable Life
It’s too late for the Sibyl, but for the rest of us, the real planning can begin right now.
Join me for the next blog post, and let’s see if we can figure this thing out together.
Russ Hill is the Executive Chairman of Halbert Hargrove Global Advisors, LLC (“Halbert Hargrove”). This blog and his book have been authored by Mr. Hill in his individual capacity. This blog is provided for general and educational purposes only. Nothing in this blog or his book should be construed as investment advice. All opinions or views reflect the opinions and judgment of the author as of the publication date and are subject to change without notice. Nothing contained herein or his book should be construed as an offer to provide investment advice through Halbert Hargrove.
