Do You Want the Good News or the Bad News First?

I have good news and I have bad news.  Which do you want first?  I’m a good news first kind of guy!

The good news is we’re living longer.good-news-261x300

The bad news is we’re living longer.

Confused?  Don’t be.  Here’s what I mean.

It’s great that with medical and technological advances we’re able to live longer, healthier lives in general.  Our retirement time horizon no longer looks like 15 or 20 years.  Nowadays, we’re more likely to retire and then live for another 30 or 40 years!

That means more time with our spouse if we’re married, more time with our kids, our grandkids…just generally more time to do the things we want to do.  In fact, my dad lived to age 97 before passing away a few years ago.  My mom, god bless her, is still going strong at age 94!

So what’s the bad news in that?  The bad news is that your income in retirement has to last as long as you do.  Planning to have your income last 15 years is radically different than planning to have your income last 40 years!

How do you go about planning for that?  Should you take more risk in your portfolio?  Should you save more and plan to spend less if you’re not already retired?  And what if you are already retired and living on a fixed income?  Then what?  Are there solutions out there that can help address this risk?

The second piece of good news is there are solutions available, and we can help you with them.  That might be the best news you’ve heard all day!


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1 Comment to Do You Want the Good News or the Bad News First?

  • James Kilroy |

    SAM & John,
    Thanks for the financial info to sell our three stocks so we could put in a new driveway. It is great job & it adds value to our home.
    Thanks again,
    Jim & Irene Kilroy

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