Longevity Planning: Looking Beyond the Financial Factors of Retirement
Longevity planning. This is a term that often coincides with retirement planning. Longevity planning has to do with creating a comprehensive strategy that goes beyond finances to consider physical health and quality of life factors. Aside from a monthly income, how do we maintain our physical health, connect with a sense of purpose, and feel happier to achieve a sense of greater overall wellbeing in our final chapter?
What am I going to do in retirement? Where will I live?
According to psychologists and years of research, retirement is ranked number 10 on the life stressors list. People often celebrate retirement as a happy event, but for many individuals it brings up questions of personal identity, a fear of running out of money, living a groundhog day scenario, losing social connections, being seen as “old,” and more. Without a sense of direction and purpose in the next chapter, people often flounder and are at risk for isolation, mental health challenges, substance misuse, and more.
A recent MarketWatch article highlighted how many financial advisors are not having these important conversations with clients. Cassaday & Company, Inc., is unique because in our commitment to help clients maximize their return on life, we have an in-house specialist who helps clients prepare for the nonfinancial aspects of retirement. Jennifer Landis-Santos is our Career & Life Transitions Coach and she is a resource to support our clients as they navigate some of life’s big questions, such as:
- What is my purpose?
- When should I retire or sell my business?
- How can I support my child who is not thriving?
- What do I do after being laid off?
- How can I connect in a more meaningful way with my spouse?
- I was just diagnosed with cancer, now what?
- How do I navigate aging alone?
- Where should I move to in my “next”?
If you are sitting with a big question and want to connect for resources or support, reach out to your financial advisor for an introduction to Jennifer.
If you are not a Cassaday & Company, Inc., client and would like to inquire about our comprehensive services, we welcome you to contact us.