Quote Of The Week: Living To 150

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Will this baby live to celebrate his 150th birthday? Will he run out of money before he gets there?

The first person to reach age 150 has already been born. How do I talk to a client preparing to retire at 65 using the traditional model and with planning software that only goes to age 95? The financial model is broken.”

Ric Edelman, chairman and CEO Edelman Financial Services, as interviewed by Eric Rosenbaum

The Challenge: As lifespans increase, it’s no secret that more people are worried about running out of money. Long lifespans, coupled with uncertain investment markets and inadequate savings, present challenges for financial planners and clients alike.  Eric Rosenbaum, in his article for CNBC, writes that one hundred years ago, the average lifespan was about 42. That’s now doubled.  “People are living longer and trying to stretch their income to make ends meet and stay ahead of inflation,” he says.

About Mari Adam

Mari Adam, Certified Financial Planner™ and President of Adam Financial Associates Inc, has been helping individuals and families chart their financial futures for over twenty-five years. Have a question about your financial situation? Ask Mari!

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