In recent decades, rising life expectancy has become one of the most transformative social and economic trends of our time. According to the UN World Population Prospects 2024, the global share of people aged 65 and over has doubled from under 5 per cent in 1960 to 10 per cent in 2024. Meanwhile, global life expectancy has risen from just over 50 years in 1960 to 73.3 years today. As birth rates decline and older populations grow, families are living longer together, spanning more generations than ever before.
What does a longer lifespan mean for wealth planning?
This demographic transformation presents both unprecedented opportunities and complex challenges for families. “We’re not just living longer – we’re extending the narrative of what family wealth must support,” says Roger Stutz, Head of Wealth Planning at Julius Baer. “It requires a strategic mindset that looks far beyond wealth preservation toward what we call financial longevity.”
Nowadays, families are grappling with the reality that the wealth originally intended for two generations now needs to support many more, each with differing ambitions, expectations, and needs. This dynamic creates a ripple effect through every decision, from asset allocation to philanthropic commitments.
Gender adds another layer to the planning equation. Women live on average six to eight years longer than men and face distinct planning needs. Despite this, they are less likely to make major financial decisions or start saving early. Yet their influence is set to rise significantly: estimates suggest that by 2030, women will control two-thirds of household wealth in the US alone, largely due to inheritance and the longevity gap. “Empowering women in wealth planning isn’t just a matter of equity, it’s essential for building lasting, resilient family wealth structures,” notes Roger.
Market volatility and global economic uncertainty further complicate the picture. A family’s strategy not only needs to account for longevity, but also be robust against cycles of downturns, inflationary pressures, and systemic shocks. “The key lies in building wealth structures that are adaptive and diversified while anchored in a clear, shared vision,” says Andreas Raquet, Co-Head of Wealth Planning Solutions at Julius Baer. “This is not merely about withstanding time, it’s about thriving through it.”
Why should all generations get involved?
As families expand, so too does the need for alignment and dialogue across generations. Longevity forces wealth creators and stewards to ask more searching questions: What is our family’s mission? What does a successful future look like across four or five generations? Are we equipped to make decisions that include both 30-year-olds and 90-year-olds around the same table?
The Family Barometer 2025 reveals that only 28.6 per cent of families report having a clearly defined and unanimously shared vision and mission. While many families demonstrate some degree of alignment, discrepancies in values and goals are common, highlighting the importance of active, ongoing engagement. The most successful families tend to be those who articulate a shared purpose and embrace a culture of responsible stewardship. As Andreas puts it, “This means investing not just in financial assets but in relationships, education, and governance structures. A cohesive approach to legacy can act as a powerful compass, especially when difficult decisions need to be made.”
With families now spanning up to five living generations, longevity naturally brings greater potential for divergence in how different age groups view wealth, risk, and purpose. Gen X may prioritise capital preservation and tax efficiency, while Millennials and Gen Z often seek impact-aligned investing, digital transparency, and more collaborative governance structures. The younger generations are also digital natives, expecting technology-enabled tools for managing assets, tracking impact, and participating in decisions in real time – preferences that may feel unfamiliar or even disruptive to older family members.
These generational shifts can create tension, especially around the pace of decision-making, preferred communication channels, and definitions of success. Without an inclusive governance framework that respects generational differences while reinforcing a shared mission, families risk fragmentation.
What’s the solution to avoiding family conflict?
Creating platforms for structured dialogue, such as family retreats or digital decision portals, can bridge these divides. Long-term success depends not on uniformity of thought, but on the ability to harmonise diverse perspectives in service of a cohesive legacy.
Why are longevity and thematic investing a natural fit?
As families look further ahead, thematic investing comes into sharper focus. This approach aligns long-term capital with future-forward trends, many of which are directly linked to the longevity narrative: healthcare innovation, sustainable infrastructure, AI and robotics, education technology and climate resilience, to name a few.
“Thematic investing gives families a way to engage with the future in a meaningful way – to align capital with the kind of world they want their children and grandchildren to inherit,” observes Andreas. “For many, this creates a natural synergy between wealth and impact, between performance and purpose. It can also offer a meaningful way to engage younger generations who may be more driven by values-based decision-making and environmental or social responsibility.”
What must families remember when lengthening their legacy?
“Creating a legacy is no longer a one-time event,” says Roger. “It’s a lifelong – even multi-lifelong – process that blends financial insight with human experience. Those who succeed in this transition are families who view longevity not as a challenge to be managed but as an opportunity to be embraced.”
As life spans stretch and families become more interconnected, the traditional frameworks of wealth management are being redefined. For families, this is both a call to action and a rare opportunity. The future demands not just financial strategy, but imagination. Financial longevity is not about outliving one’s wealth; it is about enabling wealth to outlive and elevate the generations it serves.
For more findings on this, including insights into the regional concerns of wealthy families, get our Family Barometer report below.