Why Guaranteed Income Should Be Part of Your 100-Year Life Plan

Group 1 - The concept of a 100-year life plan is gaining traction as advancements in healthcare make living to 100 more feasible, highlighting the importance of financial planning for longevity [1][2] - Financial well-being is a central focus of the 100-year life plan, emphasizing the need for a longevity portfolio that ensures financial resilience and flexibility [2][4] - Longevity risk, the risk of outliving savings, is becoming a significant concern for many individuals, particularly in states like Florida and Texas, where clients are advised to consider guaranteed income sources [4][5] Group 2 - A 65-year-old today has a one-in-three chance of living past 90 and a one-in-seven chance of surpassing 95, indicating that longevity risk is a statistical certainty for many [5] - Without guaranteed income sources, retirement portfolios may face longevity drag, leading to the gradual depletion of assets over an extended lifespan [5][6] - Certain annuities, such as single-premium immediate annuities (SPIAs) and deferred income annuities (DIAs), can provide steady income and protect against market volatility, making them valuable components of a longevity portfolio [6][7]