Widower’s Finances & Estate Planning: 92-Year-Old Doctor’s Will

by Grace Chen

At 92, a renowned psychiatrist is rewriting his will, not because of illness, but because life-and its costs-have proven longer and more expensive than anticipated. This startling realization underscores a growing concern: how to financially and emotionally prepare for a lifespan that stretches far beyond expectations.

Lee Si-hyung, a psychiatry specialist, is being interviewed in Seocho-gu, Seoul in October last year.

Who would have thought that the will I wrote in my mid-70s would be changed in just 20 years?

These are the words of Dr. Lee Si-hyeong, a 92-year-old physician who continues to practice medicine. As a psychiatrist, he established ‘Hwa-byung,’ an emotional disorder unique to Koreans, as a globally recognized psychiatric term. A celebrated ‘national health mentor’ known for frequent public lectures, Dr. Lee’s decision to revise his will stems from a surprisingly common issue: outliving his financial projections.

He initially intended to donate his organs, but found himself living longer than expected, with dwindling resources. The passing of his wife, after a lifetime together, dramatically increased his expenses-from more frequent dining out to the cost of caregivers. “The life of a widower is not usually difficult,” he observed, “I think I really need to prepare well for death when I reach the age of 100.” This realization struck him in his nineties.

This isn’t simply about anxieties over a shrinking bank account. It’s a candid confession about the financial challenges of an extended lifespan and the profound emotional toll of navigating life alone without a spouse. This was the deeply personal concern of Dr. Lee Si-hyung, a perspective rarely shared.

Lee Si-hyung, who was the head of the neuropsychiatry department at Korea Hospital. JoongAng Photo

Lee Si-hyung, former head of the neuropsychiatry department at Korea Hospital.

A photo of Lee Si-hyung believed to have been taken in the 1970s. JoongAng Photo

A photograph of Lee Si-hyung from the 1970s.

How can one navigate the swamp of longevity with greater ease? Dr. Lee Si-hyung emphasizes the importance of proactive readiness-addressing health, finances, and relationships while still healthy to avoid the regret of wishing for an earlier death due to the hardships of aging. He stated, “It is a privilege to be healthy to be able to take charge of my life and aging.”

Blood pressure, diabetes, and spinal disc issues are notably crucial to manage starting at age 40. These conditions,frequently enough stemming from lifestyle choices,can cause critically important suffering in later life. What is the core of his decades-long health secret?

You may also like

Leave a Comment