Today, I want to point you in the direction of some really handy tools that have been put together by the Society of Actuaries. And most specifically, the Age Wise series that they have put together. You can go to their website and access PDFs all about retirement, aging, helping people wrap their mind around the fact that we truly are living significantly longer than our predecessors (and the impact that that has on your money and on your financial planning), and what you need to be thinking of in terms of how your portfolios can weather the storm of unexpected events happening during retirement.
Here's one example: there is a 50% chance that one person in a couple is going to be alive at age 92. Many plans are not structured to anticipate the fact that they're going to have to be operational and able to fund a life that long. Other examples you can find with these tools are about: unexpected events that happen that just cost you a lot of money that you wouldn't have expected, different life scenarios and different ways you can live, and the types of facilities/homes that you can live in - giving you an idea of some cost.
These are just some good really nice, clean tools that help you get your consumer/investor/client to wrap their mind around longevity issues as it relates to financial planning. You can check it out for yourself at the Society of Actuaries. The series is called Age Wise and these are PDFs that you can pull for yourself.
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