BBC NEWS | Health | Stem cells tailored to patients

While avoiding the ethical questions in regard to stem cell research, I will address the age question. In recent discussions with a middle aged couple who have accumulated a decent retirement nest egg, questions about retirement ages came up.

A couple who has reached the age of 50, have about a 50/50 chance that at least one of them will live to be 90! This may not be surprising to you but are you prepared to live that long or longer. The 90 figure is thrown out just like historical figures are thrown out in regard to the stock market. It does not factor in health care advances.

Who knows what advances will be made in the next 40 years? I have often told my children that they should plan to live to be 150 years of age. This is not a prediction. It is the common sense idea that one should be prepared to live comfortably in the event that one does live a long time.

In the old days, it was common sense to buy lots of life insurance on the male bread winner as the risk was that he would die too soon. Now-a-days the bigger risk is that he will live too long.

In a recent speech, the head of a senior services organization said that of all the people who have ever lived to be 65 years of age, 90% of them are alive today! We need the government to reform social security but whether it does or doesn't do the job, Americans need to be prepared financially for longevity.

The break through in stem cell research offers promise of incredible health benefits. Diseases such as diabetes may be eliminated. Investors who have accumulated a million dollar retirement account might safely withdraw $40,000 in current dollars per year and know that he will always have another $40,000 to withdraw the next. Those who cannot live off $40,000 per year need to get busy making sure they have more than $1,000,000 saved. By the way, $40,000 per year may not cover your annual medical expenses in 40 years.

STOCKS HAVE A HIGHER LONG-TERM RETURN THAN OTHER INVESTMENTS--BUY THE BIG BULL WHILE YOU ARE YOUNG--YOU MAY NEED THE MONEY WHEN YOU ARE 120!