Living To 100: 4 Steps To Financial Planning For Longevity

In an article he penned for Financial Advisor magazine, Matt Teich, Director of Financial Planning for Cresset Wealth Advisors, details why helping clients plan for extreme old age is a prudent approach to wealth management. As he puts it, “The numbers required to plan conservatively can be jarring– and they often spur clients to action.” Matt stresses the need for setting financial goals and to “run the numbers” rather than rely on rules of thumb to ensure that these goals can be met. He emphasizes that a conservative approach to longevity is necessary to ensure that health care, and possible long-term care, costs can be met. Matt also believes plans are not one-off constructs but, rather, an “ongoing conversation” in which progress is monitored and parameters are adjusted as necessary.

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