One of the major demographic changes happening in most developed countries is the aging of the population. Thanks to better medical infrastructure, new and more effective medical treatments, and overall better quality of life, U.S. citizens today are able to outlive people from other less developed countries.
This has had a big impact on the way we prepare for retirement since it increases the time we need our savings to last. Additionally, it increases the chances that, in the end, we'll need more long-term care (LTC) such as helping with bathing, walking, or going to the bathroom.
