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iving a long and fulfilling life is the quest of most of us. And as a society, we work together in technology, healthcare, and other fields to contribute to the increased longevity that Americans now enjoy compared to earlier generations. But with our longer lifespans, will we each have enough money to support our lifestyle? And will we be prepared to meet the health related and longterm care expenses that have increased alongside our longevity? These are the million-dollar questions that many financial advisors strive to answer for their clients. “Advisors Magazine” talked with ten veteran financial management professionals about the impact that increased longevity has upon their clients’ financial planning. Here’s what they had to say regarding the pieces of this financial puzzle.
Volatility is Here to Stay
Gone are the days when retirement was synonymous with a smooth sail. Today’s market continues to feature plenty of chop. Better get used to it and take some economic motion sickness pills. “Volatility just is a constant in today’s retirement,” Paul Viren said. “We brace our clients for it, but we also tell them not to panic.” That’s because the owner and president of Viren and Associates, Inc., based in Spokane, Washington, knows his pre-retiree and retiree clients must continue to take some risk – well calculated risk – to get the gains necessary to reach their goals. “The fact is we have to return some ADVISORS MAGAZINE - MAY 2018 p.7