Whenever we sit down with clients to plan for their retirement, it’s always interesting finding out their answer to a simple question: “How long do you expect to live?”
Clearly none of us knows the future, but the predicted answer to this simple question carries a lot of weight. That’s because a critical aspect of retirement planning is making certain you don’t outlive your resources – something that happens to far too many seniors who fail to plan for a longer-than-expected life span. After all, if you expect to live to age 80 – and spend your money with that in mind – what will you do if you end up living to be 90? It happens more than you think, forcing seniors into decisions they never wanted to make.
For a fun (and eye-opening) exercise, spend a few minutes online with the Lifespan Calculator. This simple tool asks several key questions about your family history, your diet and exercise habits, and your present health. It’s completely confidential – you don’t enter your name or any other identifying information. In less than five minutes you’ll discover your likely longevity.
Of course, while the calculator is predictive, it’s not 100% scientific. As we said, no one knows the future. But careful planning requires that we think ahead ten, twenty or thirty years, and do our best to lay plans in place today for a more secure tomorrow. Planning ahead has been the hallmark of the wise throughout the ages. The Old Testament book of Psalms, for example, contains these words: “Teach us to number our days that we may gain a heart of wisdom.”
We encourage you to use the Lifespan Calculator as both a fun and a sobering exercise. If nothing else it will remind you to take seriously the need to plan carefully for your future as you age. Here at Aging Options, our approach to planning encompasses five key areas of concern: your finances, your health, your legal affairs, your housing decisions and the relationships with those closest to you. It is possible to put a plan in place that takes all of these into consideration so that, no matter how long you live, you can enjoy the kind of fruitful life you have desired for yourself in your retirement years.
The place to begin is by attending one of our free LifePlanning Seminars. We conduct these information sessions frequently at locations throughout the region. You’ll gain valuable insight into the entire retirement planning process. Click on the Upcoming Events tab for dates and times. We’ll look forward to meeting you at a LifePlanning Seminar soon!