Health Care Costs in Retirement | Longevity Planning

Many of your clients are dreaming of retirement. It’s the final phase of their life that they’ve been diligently working toward and saving for. Suffice it to say, it would be unfortunate if something derailed that dream, especially if the reasons it was derailed were preventable. However, that predicament is happening more and more across the United States. The culprit? Rising health care costs.

Planning for health care costs – effectively

Even with good insurance, there’s no telling how a health episode may spiral out of control and leave your clients’ wealth in jeopardy. It’s not likely that something common like the flu or a broken bone will sink your clients’ chances of retirement, but rather it’s the chronic illness or preventable diseases that could cause your clients to hemorrhage savings. 

Diabetes, stroke, heart disease all have long-term consequences and can eat up a large portion of retirement savings. Talking to your clients about their health must be part of your strategy in talking about their funds for retirement. These can be uncomfortable conversation to have, but need to happen in order to attain the best outcome for your clients’ wealth.

It’s not just chronic, preventable diseases either. Genetic components often play a role in what type of illnesses develop and how serious they are. With Genivity’s HALO assessment, we can tell you more about your clients’ risks and, more importantly, the amount of money it may cost them. 

Help your clients make the most of their retirement

Money is a finite resource and needs to be managed as such. The last thing anyone wants is for a retiree to re-enter the workforce because their medical costs have depleted their funds. The best way to avoid this scenario is talking about it today.

There’s no magic bullet to disease and no one can tell the future perfectly, but there are things you can do today to make sure your clients vision of retirement isn’t derailed by health care costs.