If you’re worried about living longer than your partner, you might wonder whether women really do live longer than men. Although it’s not the same for every couple, on average, women outlive men by five years, which means that women should plan to live about the much longer than their partners. Although everyone will be different, especially depending on health concerns, history, and unforeseeable events, it’s best to plan now for what you can’t predict tomorrow. The good news is that simply by knowing that women tend to live longer than men, you can plan for that possibility now. At DunnCreek Advisors, we provide St. Paul, MN retirement investment services, helping individuals plan for retirement and extended care needs. With the right investment strategies and smart planning for your retirement costs, we can help you ensure that you are financially prepared for your life after retirement, regardless of whether you live longer than your partner.
Benefits Investing in Post-Retirement Extended Care for Women
Even though it’s not guaranteed to happen, because women typically live longer than men by five years, it’s important to start planning for that possibility now, including any extended care needs you may have. Because 70 percent of Americans over 65 can expect to need some form of extended healthcare, it’s likely that you, your partner, or both will require extended care at some point in your lives. At DunnCreek Advisors, we can help you create a smart investment strategy for extended care. When determining the best extended care investment strategy for you, it’s important to consider not only that women typically outlive men but also that:
• There are many ways to save or plan for extended care needs, which can be used in combination to create an investment plan for extended care, including health insurance, riders on life insurance, fixed annuities, and self-funding through savings.
• Healthcare costs are higher than ever, and you should plan for them to be even higher in the future. When allocating current investments and savings for extended care, you should consider what the costs of healthcare may be in the coming years.
Retirement Investment Strategies for Women
If you think you may outlive your partner, or that your partner will outlive you, it’s important to plan for that possibility when planning your retirement investment strategy. When planning for retirement, you should consider how long your retirement will last, how much you will spend during your time of retirement, and what types of investments you will have to contribute to your retirement. At DunnCreek Advisors, we provide retirement investment planning services in St. Paul, Minnesota so that you have help answering the hard questions about retirement. If you’re worried about how long you or your spouse will live, we can help you prepare for every possibility today with smart retirement investing and extended care investment strategies. Contact our advisors at 612-436-3770 or rdunn@dunncreekadvisors.com, and give yourself the peace of mind that comes from knowing you’re prepared for your future.