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New research has highlighted a 10-year gap in life expectancy between Local Authorities (LA) where life expectancy is the longest and shortest, reinforcing the connection between financial wellness and health. According to the latest figures, living in certain councils may tip the odds of living longer in your favour.
The retirement specialist Just Group of longevity across Local Authorities (LA) has highlighted a close link between health and wealth with its latest analysis.
The findings revealed that the top five councils where people are expected to live longest, on average, tend to have property prices around six times higher than the five local authorities where life expectancy is lowest.
The analysis revealed that Westminster topped the list for male longevity in the UK, where the average life expectancies at birth stood at 84.7 and 74.3 years respectively.
To highlight the connection between health and wealth, the experts mapped out property prices in these regions.
They found the average house price of £791,252 in the top five LAs for longevity, which was more than five times higher than the average of £142,321 for the bottom five councils.
For female life expectancy, London boroughs dominated the chart of female life expectancy by council.
The four top five authorities were Kensington & Chelsea, Camden, Westminster and Richmond upon Thames, followed by Hart in Hampshire.
The average female life expectancy at birth in these councils is 87.0 years – more than eight years higher than the bottom five LAs by female life expectancy at birth, where the average woman is expected to live to 78.8.
The correlation between health and property wealth was also evident in this group.
On average, properties in the five longest-living local authorities are worth 878,804, which is more than six times higher than the five LAs with the shortest female life expectancy where properties are worth £138,998.
Stephen Lowe, group communication director at retirement specialist Just Group, said: “Our comparison of house prices and life expectancy across the UK shines a light on the strong link between health and wealth.
“Average life expectancy is a rough guide that can mask the great disparity in life expectancy across the UK and it’s clear when thinking about finances in retired and later-life [that] people and financial advisers should treat averages with a pinch of salt.”
Previous research probing the link between the lifespan of wealth has found a lower prevalence of poor health conditions, such as heart disease, among the rich.
People with higher income tend also to have access to a wider range of resources that promote longevity and health.
Education may also be a factor, according to previous studies.
Together, these components highlight the importance of addressing the conditions that limit opportunities for good health.
Mr Lowe added: “People may not like to think about how long they are likely to live and, when they do, they tend to underestimate the age they are likely to attain.
“But for an individual planning their retirement, finances, average figures are a poor guide – nobody is ‘average’.
“At age 65, median life expectancy is about 86 for a man and 89 for a woman which means half will survive longer.
“As these latest figures show if you are in good health and have reasonable wealth, that tips the odds of living longer even more in your favour.”
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