We are living in "the age of longevity" where 20-year-olds can expect to live to 100! Does this mean the current retirement system will soon be obsolete? Professor Andrew Scott, an economics professor at the London Business School and author of The 100-Year Life: Living and Working in an Age of Longevity, discusses how retirement planning needs to change to face the challenges of an extended lifespan. Listen what transformations need to take place both in the current attitude and infrastructure of retirement planning. Are governments adequately addressing the inevitable strain longer lives will place on their future economies? How can individuals and their retirement planners make informed choices to cope with a longer retirement? Professor Scott insists that the most important aspect of retirement planning may not be financial. Tune into the financial podcast to learn which specific aspect of retirement planning should be your focus. There is no such thing as a "no risk" investment Risk is an inherent part of investing. There are three main methods to reduce risk in your portfolio: asset allocation, diversification, and money management. But what exactly is a money manager? Doug explains how a professional money manager may help lower risk in your portfolio. To learn more about Professor Andrew Scott's book, visit his website, follow him on Twitter, @ajsiondon1, or read his book,The 100-Year Life: Living and Working in an Age of Longevity. If you're not already receiving updates on new episodes, sign up now, and as a special bonus, receive Doug's free ebook The Retirement Planning Book.