Will we be able to afford new healthy-life extending treatments when they arrive? Here is the basic logic;
* Technology is advancing exponentially in speed, power, and shrinking in size.
* Medical & Health Sciences have only recently become an information-technologies.
* Advances in medical science are thus occurring at an accelerated rate (think biotechnology and nanotechnology enabled tools, treatments, drugs, genetic interventions, medical devices, and global communications)
* These advances will soon – as in within about 10 years – make startling breakthroughs in disease treatment and prevention
* Additional breakthroughs are occurring and will occur in rejuvenation therapies (such as stem cell treatments)
Sooooooo, what does that mean? It means we will likely live much longer and much healthier!
My suggestion is that in terms of personal financial planning, we should up the priority of medical and health related expenses in our and our family’s lives, and in particular, expenses related to preventative health care. Some of these don’t necessarily cost more (such as exercise), while others undoubtedly do (such as better food, supplements, and higher quality insurance programs).
In addition, I suggest we should have a fund that will cover potential costs of special treatments that may not be covered under medical plans. The innovations are most certainly going to outpace the ability of health plans and governments to keep up.
Interestingly, one of the immediate concerns people express when they initially hear this is, “…yeah but we will not be able to afford these treatments!” One of the leading voices in communicating the possibility and desirability or radical life extension is gerontologist and Chief Science Officer of SENS Foundation Aubrey de Grey. He addresses this issue in this video. Check it out!
Consider that it is cheaper to stay healthy than pay for an expensive illness. By living longer and in good health, we defer the extreme costs of a terminal illness. On a personal basis, it is a matter or re-arranging financial priorities AND how we think about life.
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All the best!
Here is the link to the original video interview with Aubrey;
Original source: http://www.youtube.com/watch?v=Y5TMpIgUDLw
Also, check out Aubrey’s book called “Ending Aging“.