If you asked someone from the older generation to look back on their parents’ or grandparents’ retirement and compare it to their own, they would probably say that things have changed significantly. The same applies when looking to the future and thinking about what retirement will be like in one or two decades from now. The world is a rapidly changing place and this is reflected in many aspects of retirement. Here are just some of the ways that retirement could be different in the future.
No Social Security Benefits
The funds that are used to provide social security benefits to retirees is rapidly drying up and people approaching retirement are being advised to put steps in place to ensure they have sufficient funds of their own to live off. In the future, there may be no social security benefits available at all and people will have to rely entirely on their savings and private pensions.
Increased Health Monitoring
At the moment, retirees have to book an appointment if they are concerned about their health and then visit their doctor for a diagnosis. They may then refer them on to someone else for further investigation. This all takes time and money and sometimes health conditions are missed if a person does not alert their doctor to any changes in their health. In the future, this will all change as people will have their health monitored around the clock with wearable devices. These gadgets will check various aspects of your health and send the data directly to your health care provider. They can also alert the emergency services if you are having a medical emergency.
Once people reach the age of 75, their risk of having an accident increases, according to insurance statistics. This is because they experience a decline in their vision, hearing, and response time. Therefore, it may be helpful for people over this age to know that there are big advancements in technology to create driverless cars. Retirees of the future could still have their freedom with a reduced risk of injury thanks to such technology.
Home Delivery Advancements
Home delivery services are vital for people who have mobility issues, which is often an issue for people of retirement age. Future retirees can expect their goods to be delivered in a very different way as there is ongoing work into creating a drone delivery service that will drop your purchases off on your doorstep.
Keys Will Become a Thing of the Past
Everyone has experienced the problem of getting home and not being able to find their house key at some point in their life. This will no longer be a problem for retirees of the future as keys will become a thing of the past. In the future, you will either unlock your home with your mobile device or with fingerprint recognition technology.
By 2030, it is expected that everyone’s medical care will be tailored to their genes. Using DNA sequencing, medical experts will have the information needed to offer a disease prevention plan that is unique to you, early detection of diseases will be more likely and prescription drugs will be given to match your profile.
Paying Via Smart Devices
Cash and cheques are gradually being phased out and there are more options to pay quickly, conveniently, and securely. In the future, it is likely that retirees will not have to worry about cash and cheques at all as they will be able to pay for everything with either cards or a mobile device.
Glasses Will Become Important
Now, glasses are something that most people only use for reading and driving. Retirees of the future will be buying glasses for a much different purpose within the next two decades. Glasses will become a very important part of how we communicate and access information as the advancement of virtual reality glasses has created a new way to watch television, read texts, see people you are talking to on the phone in 3D, and provide you with a range of information. They will even be used by surgeons performing surgery, so they can access patient information while performing an operation.
While most people already have a smartphone that can be used for multiple purposes, there has been a big increase in the number of smart gadgets that are available for around your home. This rise in the use of smart technology around the home will continue to increase and could potentially be very useful for people who are retiring in the future.