While on its face it represents positive momentum for health in the U.S., rising life expectancy also comes with a key financial concern — longevity risk, or the potential for someone to outlive their retirement savings. This is a key challenge that many prospective retirees may not be ready for.

This is according to research published this month and conducted jointly by the Nationwide Retirement Institute and the American College of Financial Services. This was part of a broader Nationwide campaign seeking to “explore the financial implications and consumer sentiment related to rising life expectancy.”

Research from the American College found that “extending a retirement by just 5 years from 30 to 35 years increases the risk of depleting savings by a striking 41%, based on historical market returns,” according to the research report. “And that risk only intensifies as lifespans continue to lengthen, particularly among healthy, higher-income retirees.”

Additionally, Nationwide found that many Americans appear to be underestimating their chances of living to the age of 100 and the accompanying financial demands that such a lifespan can bring. In a survey, only 29% of respondents indicated they would want to live that long.

The other 71% cited factors that make such a prospect unattractive, including “concerns about declining health and deep financial anxieties,” the report explained. “Roughly three in four fear they’ll run out of money before they run out of time.”

Economic volatility is adding to the challenges and concerns. The joint research found that 40% of non-retired Americans are planning to delay their retirements due to economic instability — namely inflation. The situation is severely exacerbated by an estimated 10% decrease in projected portfolio returns stemming from the U.S. economic situation.

This necessitates greater attention toward retirement planning, the organizations said in the report.

Michael Finke, a co-author of the research and a professor of wealth management at the American College of Financial Services, said it’s clear many people are underestimating how long they will live and that planning must include more inclusion of potential longevity.

“We consistently see that those who plan for longevity feel more confident about retirement,” Finke said. “The key drivers of that confidence? Working with an advisor, having access to guaranteed income, and building a plan that’s designed to last.”

There is also a “silver lining” in the data, the results noted. If Americans knew they would live longer, they would take more proactive steps to plan for a longer life. These include adopting a healthier lifestyle (58%); paying closer attention to finances while increasing savings (67%); and taking on less debt (63%).

In a recent discussion with HousingWire’s Reverse Mortgage Daily (RMD), Wade Pfau, a professor of retirement income at the American College, suggested that some of the current economic volatility could increase the number of conversations about reverse mortgages as a retirement planning tool.

“It’s always a matter of if you’re retired, and suddenly the market’s had this pullback and you need to take some distributions to meet expenses, being able to tap into something that’s not exposed to that volatility can be really helpful to manage your long term investment performance,” Pfau said in April.

“So that was the original justification for the [Home Equity Conversion Mortgage (HECM)] portfolio coordination strategy. And indeed, I think it still makes as much sense today as at any point, nothing’s really changed in that regard.”

Chrissie Swan’s $2.86m Hawthorn East home hits the market with dual living and designer flair.

Media personality Chrissie Swan is hoping to make a stylish exit, listing her uniquely configured Hawthorn East property with $2.6m-$2.86m price hopes.

Property documents confirm the former Big Brother runner-up and popular radio host is selling her character-filled dual-residence home known as Garland House, named after legendary entertainer Judy Garland and her daughter Liza Minnelli.

The mid-century home sits on 604sq m in the prized Boroondara pocket, and has been cleverly split into two self-contained residences, ‘Judy’ at the front and ‘Liza’ at the rear, each with private entries, outdoor areas and undercover parking.

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Swan, who was catapulted into the spotlight on the 2003 season of Big Brother, finished second to fan favourite and two-time winner Reggie Sorensen.

She’s since become one of the country’s most beloved broadcasters, currently hosting The Chrissie Swan Show on Nova and an accompanying podcast.

Chrissie Swan rose to fame on Big Brother in 2003 and became a household name. Photo: Andrew Maccoll

Swan finished runner-up to Reggie Sorensen on Big Brother 2003 — who also won the 2022 season. Photo: Channel 10

The property has been listed through Whitefox Classic’s Ellie Morish, who said the home had already drawn huge attention thanks to its bold design, flexible layout and celebrity ties.

“Buyers love the timber panelling, the wallpaper Chrissie designed herself, the Technika kitchen suite and the calming garden spaces,” Ms Morish said.

“There’s a real sense of joy and personality here.”

The home’s mid-century design includes timber panelling, terrazzo accents and Chrissie Swan-designed wallpaper.

Each residence has its own private garden, with lush greenery and space for entertaining outdoors.

The front residence features three bedrooms, a large kitchen and living area, bespoke wallpaper and garden views, while the rear two-bedroom wing offers light-filled living spaces, terrazzo detail, and its own secluded courtyard.

Across both wings, features include new timber floors, ducted heating, airconditioning, high-end appliances and retro touches, from mosaic tiles to wall art declaring “Dramatic Exit”.

The main living area opens to a limestone terrace and features built-in cabinetry and a fireplace.

Statement wallpaper, colourful finishes and retro touches reflect Chrissie Swan’s vibrant personal style.

The home is within walking distance of Camberwell Junction, the Rivoli Cinema, trams and several top schools.

Ms Morish said the property would suit everyone from multi-generational families and creatives to savvy investors wanting a live-in and lease-out opportunity.

“It’s incredibly rare to find this kind of set up in Hawthorn East,” she said.

All bedrooms include built-in robes, desks or dressing rooms, ideal for families or shared living.

Garland House combines mid-century architecture with bold personal style in one of Boroondara’s best pockets.

“And you can feel how much love and soul Chrissie has poured into every inch.”

Big Brother, which first brought Swan into the spotlight, is set to return to Channel 10 in late 2025 for its 16th season, with Nova 100’s Mel Tracina, known for her entertainment segments on The Cheap Seats, will be stepping into the hosting role.

Bathrooms blend retro charm with modern updates, including mosaic tiling, terrazzo finishes and floating vanities.

Nova 100’s Mel Tracina is set to host Big Brother’s 16th season on Channel 10 in 2025, rumoured to film in Melbourne.

The reboot is rumoured to film in Melbourne.

The home will go under the hammer at 11.30am on May 24.

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david.bonaddio@news.com.au

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New Elevate program providing “concierge-level services” to agents is off to such a strong start that Fathom will temporarily suspend guidance while it reworks 2025 forecast.

Want a home that makes an impression? Look no further than these ultra-modern marvels.

Your home may be your castle — or your retreat, but who doesn’t want to live in a place that also makes a design statement?

Here are four dramatic houses on the market around Australia — all new or near new — that are as much about charisma as comfort.

Riverside wonder, Tasmania

The facade of ‘River Rocks’ on the Tamar waterfront is “curved like the river and valley”, said architect David Luck, who envisioned “an earth-sheltered glass house” in a place that holds special meaning for him.

The three-bedroom, two-bathroom spectacle at 279 John Lees Drive, Dilston — 10 minutes from Launceston — is a creation of 250 steel columns and glass, supporting 90 tons of soil on its roof.

Mr Luck designed and helped to build the home to reconnect with his childhood after 40 years in Victoria.

“My parents died 10 years ago. We lived in Launceston but had a farm on the Tamar river. Dad was a farmer, bulldozer driver and forester, so he was very close to the land. Building this house, digging down into the earth, felt like being a part of him; it was healing after his death.”

The result is dramatic — and a feat in engineering. Just four years old, the home stretches down the river, offering panoramic views from every room. A wraparound deck captures the bird song, bushland, passing boats and sunsets.

The property boasts a vast living and dining space with a sunken kitchen, a master suite with a private terrace, and a 6-star energy rating (the grassed topsoil on the roof offers natural insulation and solar mass).

Mr Luck sold River Rocks for nearly $1.3 million to current owner Jonathan Cecil, who’s enhanced it through extensive landscaping and the addition of commercial ducted heating and cooling plus a 100sqm shed. Mr Cecil has now listed the home for $2 million.

Agent Sam Woolcock at Elders Real said there’s been plenty of interstate and local enquiries. He said it would suit those seeking a hybrid lifestyle between Tasmania and the mainland.

“We’re seeing people from Queensland escaping summer heat, then returning for winter. And with easy travel into Launceston from Victoria or New South Wales, the journey is little different to going to a home on the coast.”

Mr Luck said he hopes the property will help establish Launceston as a “design region”.

“Dilston has some notable architect-designed houses. More along the river could make Launceston a design destination linked to the vineyards, like the Mornington Peninsula.”

Brighton beauty, Victoria

Nestled behind a serene, Japanese-inspired water garden, this spectacular tri-level home at 10 Farleigh Grove, Brighton, Victoria has been designed to impress. It’s your ultra contemporary home blending natural stone and warm timbers, taken to the next level in both design and technology.

Vendor Colin Clements aimed to create an open-plan entertainer’s house that’s both a status symbol and exceptionally livable.

“Everything’s high-end; there’s a million dollars spent on the Belgian handmade bricks alone,” he said. “My favourite room is the poker den or wine tasting room behind a hidden door, a secret room.”

Designed by Pleysier Perkins and built in 2021, the four-bedroom home showcases sophisticated entertaining zones opening to an undercover alfresco area; a Neolith marble kitchen; a home theatre with ‘starry night’ ceiling and plush seating; a heated pool and spa; a steam room and Tylo sauna; a seven-car underground garage with turntable; and a six-person lift. The poker den even has ‘Casino Royale’ wallpaper.

Technologically supercharged and app-controlled, the property boasts advanced lighting, cooling and sound systems — all managed from a dedicated comms room. There’s also keyless entry.

Agent Michael Hingston at Jellis Craig Brighton said the property justifies its hefty $11,000-$12,000 price tag.

“It’s one of the best homes I’ve ever walked into. We’ve had 15 groups through in two opens, with buyers coming from far and wide, so we seem to be off to a pretty good start.”

Mr Hingston said the property is in Brighton’s “most sought-after pocket”, just a walk to the beach, iconic Brighton Baths, Church Street and the train station.

Stately home on the hill, Queensland

Agent Denis Najzar at Place Woolloongabba is overjoyed with the interest in 45 Watson Street, Camp Hill.

This majestic five-bedroom residence, priced over $5 million, welcomed 111 groups during its first open home.

“It was my record property for open home attendance. In my 17 years of real estate, I’ve never experienced anything like it. It just presents exceptionally well,” Mr Najzar said.

Vendor Michael Weekes initially bought the original home on the site to live in while building his family home elsewhere. He then realised the corner block with city skyline views deserved its own unique creation.

“I really love the location; it’s one of the best parts of Camp Hill. So, instead of building a standard five-bedroom home, I decided to spend a lot more money and engage an architect and a builder that specialises in high-end, complex builds.”

The outcome, crafted by DAH Architecture, Aurelien Berson Construction and MKW Construction, is nothing short of palatial. The long white structure, set on a suspended concrete slab, features floor-to-ceiling sliders, louvres and skylights inviting sunshine, scenery and breezes. A turret with a glass roof houses the staircase.

A spectacular lounge and dining area flows into an alfresco entertaining retreat with a BBQ kitchen overlooking landscaped gardens and a heated pool. Additional features include a gym, sauna, master ensuite with an opulent freestanding bathtub and skylight shower, plus an upstairs lounge with a Juliet balcony to enjoy the views.

“The scale of the place is stunning, that’s my favourite thing about the house,” said Mr Weekes. “There are 3.2m concrete ceilings while the kitchen has a 6.3m void to let in the sky.”

Architectural sanctuary, Mornington Peninsula

When the vendor of a home leads a premium property development and construction firm, you know it’s going to be high-spec. Ongarello has created a number of contemporary and stylish residences on the Mornington Peninsula, and 24 Birdrock Avenue, Mount Martha is one of founder Christian Ongarello’s most cherished.

“The design is essentially a modern take on the traditional Mount Martha Beach House,” he said.  “It’s mid-century inspired, but still an ode to the Mount Martha building vernacular.”

Ongarello purchased the site years ago and collaborated with Wolveridge Architects to develop four homes, with the four-bedroom Honey House the last to be sold.

“The design features cross-flow ventilation, a northern aspect to the central courtyard, and raised ceilings in the studio suite, kitchen, and living areas, which is really special,” Mr Ongarello said.

Additional features include a wood-burning fireplace for cosy evenings, a heated swimming pool and spa, an outdoor shower and a self-contained studio.

Just a stroll from Birdrock Beach, agent Trent Cameron at Warlimont & Nutt Real said the majority of the buyers have been downsizers from Melbourne, typically keeping an apartment in the city while relocating a larger portion of their life to the peninsula.

“The quality of the finish and the attention to detail is absolutely outstanding,” he said.

The property seamlessly connects indoors and outdoors, with ceilings, walls and joinery made of Tasmanian oak, Travertine crazy paving floors with in-floor hydronic heating, feature picture windows on the roof for additional light, and curved stone walls — for no other reason than to create joy and elevate the ordinary.

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