But while longevity is a great achievement, the cost of retirement can be daunting.

According to Dr. Robert Butler, author of "The Longevity Revolution," the average lifespan for American men is estimated to increase about 16 years; for women, about 19 years. The predictions are higher in many Asian and European countries.

However, the U.S. spends about $5270 per person on healthcare. Canada and Germany, who spend $2900 and $2800 respectively, have longer life spans. Does healthcare simply cost more in the U.S.?

There are many factors that contribute to increased lifespan, such as diet, environment, and medical advances. Interestingly, studies from various economic groups have shown that the wealthier a society, the more it is able to provide benefits for its people. This finding says something about not being able to afford a longer life.

Of course, it's one thing to survive in old age and another to live comfortably. Most people don't want to give up their current lifestyle in later life. Planning for retirement early reduces the risk of having to concede your standard of living. Investments include the traditional 401(k), stocks and bonds, and a new type of insurance built into the longevity annuity that, after a certain date, provides monthly income for the rest of your life.

Financials aside, increased lifespan can also delve into politics. Ok, one can argue that anything can delve into politics. But in terms of campaigning, age can be a factor that makes or breaks the vote. Take, for example, John McCain. Concerns have arisen as to whether or not he will outlive his term. Is he too old? Can he handle the job as well as a younger person? The same questions came up for Bob Dole.

Instead of age, it's more important to look at function. Conrad Adenauer was West German chancellor at age 73, Reagan became president at age 69, and the current queen of England is 82. Not a bad bunch, huh?

Longevity is not a prominent entity in the political arena yet, but it's not a new topic either. Sooner or later, someone will make it a point of politics. Until then, it is reassuring to know that a longer life is affordable, and that old age does not necessarily detract from one's capabilities.

Author: Mary Wu - DeHayes Consulting Group