Planning For Living Longer
Today, longevity is a crucial factor in planning for those later years. The reality is you could have several decades of post-work life ahead of you.
More time in retirement doesn’t just mean more opportunities; it can also bring new complexities and risks.
Living longer means stretching retirement savings over a more extended period. This can be particularly challenging given increasing costs to live. Inflation, market volatility, and unexpected expenses can all erode retirement savings, potentially leading to financial insecurity when you’re most in need of money.
The biggest financial risk associated with longer life expectancy is the cost of long-term care services, either at home, in community-based facilities, or in nursing homes. By the time you need these services, which can cost upwards of $15,000 a month, you’ve already had to stretch your savings longer than you planned. You don’t have the means to pay for the care you need.
That shouldn’t be your reality. You have options. We want to help you create a plan that not only protects your life savings and secures your legacy, but ensures you are able to get the care you need without going broke. Give us our office a call at (605) 275-5665 to schedule a free consultation.
