In financial planning, the big question that we’re trying to answer is how to put a client’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.
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?
Of course, we’ll never know that number. What we can 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.
Listen in as Stephanie and Kevin lay out the most important of these action steps, including maintaining your physical and mental health and relationships, creating additional sources of income, determining the best time to claim your Social Security, and covering your long-term care expenses.
Key Topics:
Resources:
If you like what you’ve been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. stephanie@sofiafinancial.com
You can find the transcript and more information about this episode at www.takebackretirement.com.
