Longevity Planning

Clearwater and Tampa Bay Florida

Preparing yourself for a long life and potentially dealing with aging parents

Retirement might last 20, 30, or 40 years! Your retirement plans should consider your longevity.

People are living much longer than expected. Therefore, it is critical to prepare for a retirement that lasts 30 years or more. There are many factors to consider when planning for such a long period of time. We help to build plans that include issues surrounding aging in retirement which go beyond traditional money management..

Longevity Strategies

Factoring Life Expectancy

The retirement plans we create are built with our client's life expectancy in mind. The key to ensuring a successful retirement is to factor in the length of time income is need as well as the various expenses that could arise during an extended lifespan.

Healthcare and Aging

Health care expenses are a major stress on retirement plans. Therefore, it is critical to integrate healthcare planning into retirement plans from the outset. If applicable, it is important to apply these planning discussions to both spouses and aging parents.

Advice from a Retired Couple

Advice on financial planning and retirement from a retired couple on Dolphin Financial Radio


How can I ensure I won't outlive my money?

One of the biggest fears people face in retirement is running out of money. There are specific strategies we use to help provide our clients the peace of mind that they don't run out of money, if that is what is truly important to them. We often find that a combination of tools provides relief from this very common concern.

Will I be able to keep up with inflation?

Inflation can be a "silent killer" of a retirement income plan. An income of $20,000 today is most likely going to be able to buy far less 20 years from now. Therefore, the retirement income plans we create factor in potential inflation estimates to provide some relief from the loss of purchasing power in the future.

What alternatives are there to a nursing home and what do they cost?

Our clients don't want to go to a nursing home. Our clients also don't want to be a burden on their families. Therefore, plans must be put in place to fund the potential use of a nursing home or an alternative such as an assisted living facility, or stay-at-home health care. There are alternatives to the traditional nursing home, each with a different cost. By incorporating this piece of longevity planning into overall financial planning, our clients are better prepared to meet the challenges of facing the need for long-term care.

How can I avoid spending all my money on healthcare costs as I age?

Another top concern for retirees is the rising cost of healthcare. While individuals don't have much direct control over the actual cost of healthcare in our nation, they can control how they plan for such costs. It is important to address health care costs at the beginning of retirement planning. Factoring in the future costs of healthcare and long-term care may seem insurmountable, but there are insurance options to help. Long-term care insurance and hybrid life insurance & annuity products are considered during our planning process.


Planning For Longevity

Part of our retirement planning process includes considerations for those with long life expectancies. While know one truly knows how long they will live, it is still extremely important to make some educated guess and factor those into plans from the beginning.

Long-Term Care

As we age, the odds of needing additional medical assistance beyond Medicare increase. The costs of these long-term care expenses can be extremely high. We include these potential expenses in our planning discussions.

Lifetime Income

Retirement income must last as long as you do. Part of planning for longevity includes building income streams that will continue throughout an extended lifetime.

Lifestyle Changes

Spending habits and income needs change throughout retirement. Part of building a successful plan is to make sure the plan considers how your lifestyle changes will impact the financial requirements of the plan over time.

Build Your Plan to Last

Discussing your longevity and life expectancy may seem like a daunting task, but it can be beneficial when done in the context over an overall retirement planning discussion..

Start your longevity plan conversation with a retirement planning specialist

Call 727-223-8454 or Contact Us