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The greater longevity of human beings has been shown in numerous countries and can be mainly attributed to the development of medical care. However, an increased life expectancy has both upsides and downsides. Overall, I think there are more drawbacks than benefits.
One of the advantages of an increased lifespan is that this can give people more time to find an opportunity for self-actualisation. In the past, where life expectancy was hovering around the late 60s, few pensioners were able to take enough time for themselves. Due to an increased lifespan these days; however, people are able to try new things which they would never have dreamt were possible after retirement, resulting in a sense of fulfilment. What is more, longer life is able to benefit not only an individual but also an entire family given that the elderly might have more time to spend with their offspring. This extra time would undoubtedly lead to a strengthening of family bonds as well as the improvement of personal well-being.
That said, there is an obvious drawback of enjoying an extend life expectancy. It certainly puts more strain on younger generations who are left paying the price of health care services and pension schemes used for retirees. The longer people live, the higher rates of tax and the more lengthy work-life these young people will face. For example, scores of countries are considering increasing the age of retirement, in order to compensate for the expenditure on this increased proportion of the elderly. As a result, working-aged people have to pay more than their senior once did for unprecedentedly longer periods. Another negative aspect is that the proportion of poverty-stricken elderly people has soared. This social issue is, in particular, noticeable among nations with an inadequate social safety net. For these people, the minimum living wage cannot be covered by their pension, leading to suffering and misery.
In summary, although increasing life expectancy has some merits - particularly enabling people to find fulfilment after withdrawing from their active working lives and to solidify family relationships - the fact that it leaves insurmountable financial burdens upon people including both the young and old is impossible to ignore.
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