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You May Live Longer Than You Think, Here’s How to Plan for It

It used to be rare to hear about someone who was 100 years old, right? But now it’s not uncommon at all and soon, it could be an everyday occurrence.

Someone who is 100 years old, is called a “Cent–en–arian” and from 1990 to 2015 the population of “centenarians” grew by 400%! Between 2015 and the year 2050, the Pew Research Center in D.C. is projecting the number of “centenarians” to grow from 451,000 to nearly 3.7 million people! They’re saying that 23.6% of adults who reach the age of 65 will celebrate their 100th birthdays.

That is a staggering number! So what does this mean to you? What it means is that you may live a lot longer than you think you will. You could even live to celebrate your 100th birthday.

But living longer also means you have to make your money last longer, right? We call this “longevity risk” because the longer you live, the bigger “risk” you have of running out of money in retirement. This is why longevity plays a critical role in how you plan for your retirement.

This weekend on America’s Wealth Management Show, Bud and I will reveal the latest research on how we’re all living longer today, how it impacts planning for retirement, and some of the strategies we use with our very own clients to help your money lasts as long as you do!

To find out when America’s Wealth Management Show airs in your city, click here. If you missed it or would like to listen to past shows, you can find them by clicking here.

 

Investment advisory services offered through Barber Financial Group, Inc., an SEC Registered Investment Adviser.

The views expressed represent the opinion of Barber Financial Group an SEC Registered Investment Advisor. Information provided is for illustrative purposes only and does not constitute investment, tax, or legal advice. Barber Financial Group does not accept any liability for the use of the information discussed. Consult with a qualified financial, legal, or tax professional prior to taking any action.

Posted in: Blog, Financial Planning, Retirement

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