Financial Advisor & Retirement Planning

The Longevity Risk of Extended Care Needs — What’s Your Plan?

  • By John Hillman, MBA, CFP®, ChFC®, CLU®, CLTC Planning how you will make up for any potential shortfalls from reductions in Social Security and Medicare benefits is critical to minimizing longevity risk. My inaugural post for The Fiduciary Advisor went into some detail on this. Another key longevity risk factor to plan for is extended care. If there is at least some risk that you might live long enough to become frail or cognitively impaired — and therefore need the…

    Retirement Funding Risk & Working Longer as “Plan B”

  • Our post for The Fiduciary Advisor briefly discussed funding risk and the fact that most Americans do not adequately contribute to their retirement plans. Funding risk is simply the risk of not having enough money with which to retire. Your contribution rate is very important, but your growth rate, and distribution rate when you eventually stop working, also factor into the equation. Not long ago, the majority of private sector employees had a defined benefit pension with a professional manager…

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