62: What Women Need to Know About Longevity

<p class="p1">In financial planning, the big question that we<span class="s1">’</span>re trying to answer is how to put a client<span class="s1">’</span>s resources to work in a way that gives them the best chance to meet their goals—their financial wants and needs—for the rest of their lives.</p> <p class="p2"> </p> <p class="p1">To accomplish this, there are a lot of factors we have to guess at: How much will life cost them? How about inflation? What will happen to investment markets? What will the client want for themselves 20-30 years from now? One of the biggest unknowns, which impacts every other factor, is this: How many years does my client have left to live?</p> <p class="p2"> </p> <p class="p1">Of course, we<span class="s1">’</span>ll never know that number. What we <em>can</em> try to determine are the risks that our clients may face the longer they live, and by extension, create an action plan to build them the longest runway of wealth possible, protecting them for the years ahead.</p> <p class="p2"> </p> <p class="p1">Listen in as Stephanie and Kevin lay out the most important of these action steps, including maintaining your physical and mental health <span class="s2">and relationships</span>, creating additional sources of income, determining the best time to claim your Social Security, and covering your long-term care expenses.</p> <p class="p2"> </p> <p class="p1"><strong>Key Topics:</strong></p> <ul class="ul1"> <li class="li1"><span class="s2">“</span>What are the risks that our clients face?” (2:57)</li> <li class="li1">The four Ls of retirement (6:17)</li> <li class="li1">Action steps to have enough in retirement (10:52)</li> <li class="li1">Looking after your health + Addressing the loneliness issue (15:54)</li> <li class="li1">Getting creative with your income sources (22:56)</li> <li class="li1">When to claim Social Security (25:18)</li> <li class="li1">Diversifying your assets by the risks they<span class="s2">’</span>re designed to address (28:11)</li> <li class="li1">Long-term care expe