How to ensure that life after retirement has a purpose.

July 2026 by Ana Carrisso

Life expectancy is the average number of years a person is expected to live. A Portuguese person born in 2025 could live to almost 82 years old. The second piece of good news is that life expectancy continues to increase: According to the INE (National Institute of Statistics), Portuguese children born today have a life expectancy 15 months higher than ten years ago..

Now then, how many of these children will live to be 100? It's not a far-fetched idea. Indeed, more and more people are reaching their centenary. According to data from the latest census, conducted in 2021, there were 2,801 people aged 100 or older living in Portugal—a figure 83% higher than that of the previous census, conducted in 2011, and an impressive 375% increase over the number of centenarians residing in Portugal in 2001.

The trend in Portugal aligns with that of other developed nations. Several European countries, such as Germany and Spain, are among the world's most aged nations, a ranking led by Japan for years.. According to numerous studies by various international organizations, including the IMF and the OECD, we are at the first point in human history where the number of people over 65 is growing faster than the number of newborns. It is estimated that by 2050, up to 2,100 million people—that is, nearly 22% of the world’s total population—will be over 60 years old, and 426 million people will be over 80 years old. For reference, 50 years ago only 8.38% of the total population was aged over 60 years old. 

But it's not just the fact that we live longer; we also live better. More and more retired people want to maintain an active aging process.. This desire is already reflected in everyday life, with examples such as the proliferation of travel offers for senior citizens or gyms that offer classes adapted for older people.

Living longer requires better planning

This leads us to do a quick calculation: If the official retirement age in Portugal is 67, and the average life expectancy is 82, this means that Portuguese pensioners should plan for at least 15 years of retirement, with the possibility of extending that period… Unless they want to imitate figures like Marcelo Rebelo de Sousa, who was President of the Republic until he was 77 years old.

Longevity and active aging are two issues that have concerned Fidelity for years. From our point of view, there are four pillars that support a longer life: financial stability, physical health, emotional well-being, and social connections, with financial stability serving as the foundation upon which the rest is built.

Recently, Fidelity partnered with the UK's National Innovation Centre for Ageing (NICA) to conduct a global survey on active ageing and retirement planning, involving 11,800 people over 50 years old in 13 countries. Some of the conclusions are shocking. For example, the study found that more than a third of the participants did not plan for their retirement. Nearly half cite money as their main concern regarding retirement.. About two in five people over 50 have a retirement preparedness deficit of 10 years or more compared to the average life expectancy in their region… In other words, they fell short in managing their savings and reached a stage in life where they have an increased need for care and medical attention with limited resources.

The study also found that those who saved more tend to feel more prepared for retirement. Just one statistic: among those who had some kind of retirement plan, 83% stated that they felt physically and emotionally prepared; this rate drops to 65% among those who had not done any planning. As Keith Metters, president of Fidelity, states, being prepared for retirement is about more than just having savings: "It consists of having the security of knowing that the money will last, that it will be possible to maintain an active lifestyle connected to others, and that life will have a purpose."

Singer David Bowie speaks about the passage of time in "Changes," one of his most famous songs, in which he states: “The changes are setting the pace at which I'm going." "Changes" is an optimistic anthem, and it is on this note that we wish to conclude this discussion: it's never too late to start planning your physical and emotional well-being for the golden stage of your life.