A recent article out of South Africa cites Betje de Vroome as the oldest living human being. She was born Sept. 24th, 1866… The world has literally changed before her very eyes. *
Think about how family members are now living longer. While people used to live into their 70’s, people regularly live now into their 90’s. At the church I attend we have a woman who turned 100 over the summer. With medical advancements more and more people are expected to live to 150 years of age.
With that being the case, as individuals we have to rethink financial planning, saving strategies and income expectations during retirement. If we work for 40 years (from age 20 to age 60), and then retire, there is a possibility that our retirement will not last 10 or 20 years, but instead 40, 50, or even 90 years. If that is the case, how do we get the math to work out without running out of money?
Solutions exist to build Guaranteed Lifetime Income for retirement. Using a retirement nest egg you can create a pension for yourself. The alternative to doing so is the very real possibility that your IRA will run out of money before you pass away…
In addition, I think we have to think more generationally. If we are going to have a tough time as 40-60 year olds, imagine what our children will face. Leveraging Life Insurance and the time value of money we can give them the safety net and head start we didn’t have.
The “New Normal” is challenging enough, work with an advisor to develop long term strategies that endeavor to reduce the risk of the unknown for you and your descendants.
Retirement Income. Tax Efficient Planning.
Life Insurance. Disability Insurance
Socially Responsible Investing
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Phone: 610 293 8309
First Financial Group 744 W Lancaster Av Suite 235 Wayne, PA 19087
Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 954 Ridgebrook Rd. Suite 300, Sparks MD 21152. 410-828-5400. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is an indirect, wholly-owned subsidiary of Guardian. Devon Financial Partners, LLC is not an affiliate or subsidiary of PAS or Guardian. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation.
2017-47867 Exp 10/19