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Dealing With the Financial Implications of Longevity
Benefits Pro reporter Greg Land, in a post on www.benefitspro.com, comments on a new Morningstar Investment Management study exploring “various factors relating to estimating ‘the end’ of retirement in a financial plan,” noting that investors tend to often misjudge the number of years their accumulated wealth will last them. His article describes a tool-based approach to simulating financial needs over a variety of longevity scenarios, and concludes with the suggestion that planners should “consider the probability of surviving to various ages and selecting some period longer than life expectancy to ensure a cushion will exist should the individual survive longer than average.” Read his post here…
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