From the Desk of Dale Crossley and Evan Shear

We hope this newsletter finds you and your loved ones well. Summer may be coming to an end, but the presidential race is heating up. With that in mind, you may expect that we would use this newsletter to address any anticipated election market impacts. As we’ve mentioned in other communications, election years tend to have a temporary impact on the markets, and our long-term financial plans are structured to manage the inevitable market ups and downs.

Instead, this quarter, we thought we would discuss a topic that’s becoming an increasing concern for our client base – longevity planning. According to the CDC, the average life expectancy in the United States is 77.5 years. As people live longer, planning for a fulfilling life in later years requires a more holistic approach to a prosperous and healthy future. Longevity planning goes beyond traditional retirement strategies, focusing on a balanced integration of financial security, physical health, and emotional well-being. By addressing these interconnected areas, individuals can create a roadmap that not only prepares them for the challenges of aging but also allows them to thrive in every aspect of their lives.

The Financial Side of Longevity Planning

There are a couple of important things to prioritize when you are considering how you will handle your financial life moving into your later years of life. In particular, you should think about the following:

• Preparing for Extended Retirement - It was once the case that one might expect to only have to plan for perhaps a few years of retirement. Now, with the potential for decades of retirement lying ahead, it is necessary to think about how you will have enough money to take to make it last. This calls for a dynamic investing strategy that will have you investing in selections that you might not have otherwise. In other words, you may consider putting money into investments that are likely to continue to generate returns for you long into the future.
• Anticipating Healthcare Costs - It is not necessarily fun to think about, but it is necessary to consider the healthcare costs that will likely sneak up on you at some point. Simply knowing that you are going to have healthcare expenses that you don't currently have to deal with is a step in the right direction. Prepare for a future where your healthcare expenses are going to go up and start investing for that future.

Health Insights From Blue Zones

Certain parts of the world are known as "blue zones." In these areas, the average lifespan of people who live within their boundaries is higher than for the planet as a whole.

This is exciting to know because it means we can intentionally try to create the conditions enjoyed by those in blue zones in our own lives to garner more enjoyment and appreciation. Using some of the practices of those in blue zones in your own life can potentially bring down your healthcare costs. A few things that people in these areas do well include:

1. Eating a diet rich in fruits and vegetables
2. Regular physical activity
3. Maintaining strong social bonds

These three things can help you enjoy a healthier and potentially longer life while also reducing your retirement costs.

Integrating Financial and Health Planning

Far too many people fall under the false assumption that they must only focus on financial planning or health planning. The reality is that the two should feed into one another. When you are making wiser health choices, you ought to be able to appreciate the benefits of doing so by experiencing rewards in your financial life. Those rewards come in the form of reduced expenses.

Using blue zone practices is a great place to start. Consider adding them to your overall healthcare approach to create the best possible atmosphere for improving your health and generating long-term savings that you might not otherwise have had.

We Help With Longevity Planning

While our financial plans are developed for longevity and long-term financial success, we always encourage a plan review to ensure we’re aware of all your life changes and adjustments to future goals. If you would like to review your financial plan please reach out and schedule an appointment.

Any opinions are those of CrossleyShear Wealth Management and not necessarily those of Raymond James. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website's users and/or members.

There is no guarantee that these statements, opinions or forecasts provided herein will prove to be correct. All opinions are as of this date and are subject to change without notice. Past performance is not a guarantee of future results.