Ep 50: The Financial Risks to Living Longer

We all want to live a long and good life, but what does that mean from a financial standpoint? What kind of financial plan do you need to prepare and how can you plan appropriately for an unknown lifespan?

 

Read more on the topic here: https://philstaxhacks.com/podcast/ep-50-the-financial-risks-to-living-longer/ 

 

Watch the video podcast: https://youtu.be/kef-ksH57ds 

 

On today's show: 

0:55 - Dunkin’ Donuts is planning to close hundreds of stores.

3:10 - What’s the average lifespan look like?

5:22 - Are you planning for living a long life?

6:37 - What is a risk multiplier?

7:51 - How old is Phil’s oldest client?

9:06 - What is the probability one of you in a marriage will live to a certain age?

12:02 - How effectively does the average person plan for longevity?

12:56 - What happens if you need long-term care?

15:15 - Mailbag: Which account should you withdraw from first when you retire?