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Sue Adams

2018 CSA Conference

 

Sue Adams, MBA

EnVision Strategies, LLC
Principal and Founder
sbadams@envisionstrategies.net

 

Include Longevity Planning in Your Retirement Strategy

Longevity Planning is paramount in preparation for retirement and in creating an exit strategy for business owners. Longer life expectancies are reshaping how to plan for the type of retirement you plan to experience. The longer one lives, the more likely some type of care will be needed. Planning for this type of health care is different than medical care and could make all the difference in you and your loved one's future. Making a plan and having the choice as to what this care looks like is key to the longevity planning process.

Many of today's retirees can expect to spend 30 years or more enjoying the hard work they have accomplished. This is why it is paramount to plan for longevity in retirement. According to the U.S. Census, life expectancy is projected to continue to improve in the coming years due largely to medical and technological advances. What is Longevity Planning? Longevity Planning is an all-encompassing approach to preparing for the second half of life. Financial advisors are typically for the accumulation phase with the goal of padding retirement accounts as much as possible. They are of great value in the wealth collection phase, but they are not trained or qualified to advise on retirement planning. Longevity planners take a holistic approach incorporating legal and medical considerations into the financial plan. Longevity planners are versed in medicare, long-term care, social security planning, estate planning, and other retirement challenges and opportunities or they have a plethora of resources in their network that can help with any questions relating to living longer.

  • Part I: Multiple income streams (cash value out of life insurance, investments, qualified and non qualified accounts, etc.)
  • Part II: Integrating tax efficient strategies (tax buckets: taxable, tax deferred, tax free)
  • Part III: Wrap around health care with long term care insurance or self insuring

Increased longevity requires society as a a whole to rethink how older adults maintain their quality of life and well-being. We encourage you to begin to explore how you think about longevity issues throughout your lifespan or your client's lifespan and take action to plan for life tomorrow.

Learning Objectives

  1. Participants will be introduced to multiple income streams in retirement.
  2. Participants will have an understanding of integrating tax-efficient withdrawals.
  3. Participants will visualize how a wrap around health care plan goes hand in hand with retirement.

About Sue

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