Longevity Planning: At the Intersection of Health and Wealth

November is Long-Term Care Awareness Month, and it serves as a critical reminder of an often-overlooked reality:

We're living longer than ever before.

Through a combination of modern medicine, lifestyle advancements, and improved self-care, life expectancy has increased to 77.5 years, up 1.1 years from only a year earlier, according to data from the CDC.1

When it comes to planning for the future, there are a lot of what-ifs:

What if you get a new job?

What if you get fired?

What if you buy a new home?

What if you have another child?

What if you want to retire early?

What if you get sick?

Rarely do we consider the biggest and most likely what-if:

What if you live longer?

There's good news and bad news: Living longer comes with its own unique challenges. According to data from the U.S. Department of the Treasury, roughly half of Americans turning 65 today will need some type of long-term care in their lives.2 Even more concerning, by 2050, barring medical breakthroughs, the number of Americans living with Alzheimer's is projected to more than double to 13.8 million, according to a report from the Alzheimer's Association.3

The question becomes: Are you prepared to live a longer, financially secure life?

As we navigate the complexities of aging, it's important to recognize the convergence of health and wealth and ask yourself these important questions.

Health

Preventive Care: Are you having regular medical check-ups, eating a balanced diet, and exercising regularly?

Long-Term Care Planning: Have you planned for the rise in healthcare costs as you age?

Cognitive Health: Are you engaging in mentally stimulating activities to help maintain cognitive function?

Wealth

Retirement Savings: Have you saved enough to support a longer retirement?

Tax Planning: Have you implemented tax-efficient strategies to help maximize your wealth accumulation?

Estate Planning: Do you have a well-crafted estate plan that ensures your assets are distributed according to your wishes?

What should you do next?

Assess Your Lifespan: Evaluate factors such as family history and lifestyle habits to gain insights into your potential lifespan.

Review Your Financial Plan: Have a conversation with us to ensure your financial plan is designed to support a longer life expectancy, including potential healthcare costs and long-term care needs.

Protect Your Purchasing Power: Implement strategies to safeguard your wealth against inflation.

The good news?

You aren’t in this alone. Together, we can help you devise a health and wealth plan that prepares you for whatever lies ahead. Simply click reply to this email to schedule some time to talk.

Get Started Today!

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¹https://www.cdc.gov/nchs/products/databriefs/db492.htm#:~:text=Vital%20Statistics%20System-,How%20long

%20can%20we%20expect%20to%20live%3F,in%202021%20(Figure%201)

² https://www.northwesternmutual.com/life-and-money/how-long-does-the-average-person-need-long-term-care/

³ https://www.pbs.org/newshour/health/why-the-number-of-americans-with-alzheimers-could-more-than-double-by-2050#:~:text=Barring%20breakthroughs%20in%20treatment%2C%20the,the%20Alzheimer's%20Association%20released%20Tuesday.

Investment advice offered through Integrated Partners, a registered investment advisor, doing business as GC Wealth Advisors and its investment advisor representatives, Christopher Conner, Jason Rankin, Adam Tirapelle, and Kyle Trippel.

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