Life Planning 101

The Risk of Longevity

January 24, 201722 min
Is “Longevity” a Risk You Need to be Thinking About? Perhaps a question we need to start with is… What are the risks of “longevity?” The first, and most obvious, thing that comes to mind is the risk of running out of money, but what about these:

Increases in the cost of living (aka inflation)
Increases in health costs
Potential long-term care costs (home health care, assisted living, nursing home care)
The taxes that go along with liquidating your investments for income
Changes in your standard of living
Losing income from the death of a spouse
Ability to leave assets or part of your family legacy to your children and other heirs

Incredibly, there was a recent study done by Lincoln Financial Distributors that found advisors address these issues with every client they work with less than 45% of the time! You may find that hard to believe, but we have found it to be true. Most of the second opinions we have provided over the years have concluded that that family’s plan was missing hedg

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