They say 50 is the new 40, 60 is the new 50, and so on. That’s good news for those of us who have taken care of ourselves and plan for a long retirement. But the stellar checkup at the doctor’s office can mean sticker shock later. People with larger nest eggs can pay for life-extending medical care and so they typically survive longer. And because means-tested Medicare benefits are less available to them, they may end up digging deeper than expected.
“My overarching message is that there is no such thing as a bad [financial] product. So annuities are not bad and mutual funds are not bad. Life insurance is not bad. Stocks aren’t bad. Different products are viable and a good purchase decision for different people.”
No discussion of the opportunity and challenges associated with longevity is complete without a consideration of the caregivers. November is National Family Caregivers Month, a time to honor the mix of selflessness, perseverance and love that comes with tending to a family member in need.
“The only true way to endure is to accept … the wisdom that we are a species designed to live on- just not literally. We do so by passing on, from generation to generation, what we’ve learned from life. By investing in and connecting with the next generation. That’s how we live forever.”
Sabrina McLaughlin Smith 