In the developed world, average life expectancy is increasing. What problems will this cause for individuals and society? Suggest some measu

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It is important to consider how the developed world’s rising
life
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expectancy will impact both individuals and society.
This
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essay will highlight some of the issues which might arise
as a result
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of
this
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trend and propose some measures that might reduce them. One of the major concerns at an individual level is that as the
life
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expectancy grows, so will the cost of living.
This
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is because more money is required to get by the
retirement
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period, which means that people will have to make extra arrangements to support themselves.
For example
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, for a man who starts working at the
age
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of 20 and retires at 60 but lives for 100 years will have spent only two fifths of his
life
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making money. To combat
this
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problem, the government should raise the
age
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of
retirement
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. In doing so, people will be better prepared to cover the cost of their extended
life
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. As for societies, the most pressing problems is likely to be unemployment. While the
retirement
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age
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extension might benefit individual level issues,
this
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would create
further
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repercussions of less job opening for the
next
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generation.
As a result
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, young people will struggle finding employment as there will be a delay in positions to become available.
This
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impact of the problem could be lessened by the government investing in new technologies that could help create new jobs. In conclusion, two of the possible concerns that the increase in average
life
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expectancy would cause are financial troubles and joblessness.
However
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, their effect should be reduced if the government increases the
retirement
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age
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and
additionally
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invests in latest technologies.
Submitted by Sunita Gupta on

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