The oldest millennials are turning 45, and that milestone underscores a simple fact: planning for a longer life requires more than tracking retirement balances. Joe Coughlin, director of the MIT AgeLab, argues that practical and social factors matter just as much as money. With centenarians expected to quadruple by 2054, Coughlin and colleagues developed the Longevity Preparedness Index to broaden how people plan for aging.
Instead of focusing solely on savings, the index assesses the everyday supports and relationships that shape later life. It scores respondents across eight domains — including health, relationships with family and community, daily activities, home and caregiving arrangements, and neighborhood design — to reveal strengths and gaps that financial planning alone can miss. The free online quiz takes about 15 minutes.
MIT AgeLab researcher Katie Warren demonstrated the survey at a John Hancock longevity conference. John Hancock partnered with MIT AgeLab on the index and has launched initiatives intended to help customers live longer, healthier lives. Financial planner Matt Hudack, in his early 60s, tried the survey at the event. Questions about neighborhood walkability, social gathering spaces and who would provide care prompted him to rethink home modifications and plan for potential care needs. He scored 89 out of 100; the average respondent scores about 60.
John Hancock CEO Brooks Tingle said the exercise shifted his perspective. People commonly choose retirement locations for leisure without fully weighing long-term factors such as health care availability and social connections. The relatively low average preparedness score highlighted how many have overlooked those realities.
Money still matters: many older adults want to age in place but require caregiving support to do so. Samara Scheckler of Harvard’s Joint Center for Housing Studies points out that non-medical caregiving — meal preparation, housekeeping and personal hygiene assistance — can average about $80,000 a year, creating a “dual burden” of housing costs plus care that can quickly overwhelm families.
Psychologist Laura Carstensen of the Stanford Center on Longevity notes that when people imagine living to 100 their biggest worries are dementia and running out of money. Practical concerns are important, but planning driven only by fear can obscure the possibilities of thriving at advanced ages. Carstensen and collaborators are working on The New Map of Life to rethink how education, work and social systems can better support lifelong learning and healthier aging.
Life expectancy in the United States is roughly 30 years longer than it was in 1900. The Longevity Preparedness Index aims to spark conversations, encourage practical preparedness and prompt action across more than just financial planning. The objective is not just adding years to life but adding life to years — helping people envision and create the conditions to live well as longevity increases. Consider taking the index quiz and using its results to plan holistically: finances, home and community supports, relationships, and health all matter.