LONGEVITY EVER AFTER
Lifespan, wealthspan and healthspan. What's the difference and why does it matter? We all understand the term “lifespan” and have heard the countless stats on longevity and the likelihood of us all living longer. Current life expectancy for men and women aged 65 is 82.9 and 85.5 years respectively. In 1900 it was 76 and 78 years1. With the potential of living into your 80s in mind, have you heard of “wealthspan”? Are you concerned about your “healthspan”?
As we help plan for these longer retirement periods, we want to make sure your money lasts for the long term. Your wealthspan is the measurement of how long your wealth lasts. We want to make sure your wealthspan and lifespan are aligned. Ongoing discussions with our team and your family members and loved ones can help us ensure you have a robust financial plan.
The third component, healthspan, is the length of time during one's life that they are healthy2. This can mean different things to different people. Maybe it is remaining free of health issues, or remaining mobile and independent. Diet, exercise and lifestyle choices have meaningful implications on an individual's healthspan. Working with your trusted healthcare professionals can help you make your healthspan last as long as possible.
Many individuals have concerns about living longer, particularly around whether they will be healthy and if they will have enough money. That's where longevity planning and thinking through your healthspan and wealthspan come into play. Expecting the unexpected and creating a plan around your health needs can help ensure you have the quality of life and lifestyle you want in your later years. Our team is here to help.
[1] The Longevity Economy, Dr. Joe Coughlin, 2017
[2] Healthspan Is More Important Than Lifespan, So Why Don't More People Know About It?, Tim Peterson, Washington University in St. Louis, 2017
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Content provided by Raymond James Longevity Ever After Quarterly Newsletter for use by Eliot M. Weissberg, CFP®, CFS, of Raymond James Financial Services, Inc., Member FINRA/SIPC. The Investors Center, Inc. is an independent company. The information contained in this report does not purport to be a complete description of the securities, markets, or developments referred to in this material. The information has been obtained from various sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Any opinions are those of Eliot Weissberg and not necessarily those of RJFS or Raymond James. Expressions of opinion are as of this date and are subject to change without notice.
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