Tim Tenbrink, CFP®

I’m in my mid-40s. Surprisingly, three of my four biological grandparents are still alive, going strong in their late 80s and early 90s. I don’t take that lightly. Every time I’m with them, I’m reminded that a long life is something to be grateful for. But I’m also reminded, in a very real and practical way, that a long life has to be planned for.

As a financial planner, I typically ask people in our first meeting, “How long of a life should we be considering for you?” It often catches people off guard and after hearing many responses it’s clear that most either haven’t or don’t want to think about it. Yet, it is one of the most important components of a sound retirement plan.

One simple starting point we often use in our planning process is the Social Security Administration’s Life Expectancy Calculator. It does not tell the whole story, but it can serve as a beginning point in determining how long your retirement plan needs to last. For a more in-depth look, the Actuaries Longevity Illustrator provides additional perspective on the probability of living to different ages, including planning considerations for couples.

People Are Living Longer — Much Longer

If you’re approaching retirement, here’s something worth sitting with for a moment. U.S. life expectancy has climbed to 79.4 years, but that number actually undersells the picture. If you make it to 65, a man can expect to live to about 84, and a woman to about 86. For married couples, the Society of Actuaries puts a 50% chance that at least one spouse will live to 93.

In the past most people probably imagined a retirement of maybe 15 or 20 years. The new reality for many will be 25 to 30. And that changes everything. With medical advances and better technology it’s reasonable to expect that number will only continue to rise.

The Risk Is Real — But So Is the Opportunity

A longer retirement brings real challenges. Inflation quietly erodes what your money can buy. Healthcare costs tend to climb just as income becomes fixed. Market downturns hit harder when you’re withdrawing rather than accumulating. And the longer the runway, the more variables you have to plan around. These aren’t reasons to panic, but they are reasons to plan with intention and precision.

Here’s what I love telling clients though: longevity isn’t only a risk. In the hands of a solid plan, it can actually be one of your greatest financial advantages.

Time is the most powerful force in investing. A well-structured portfolio, given 25 or 30 years to work, has the potential to do extraordinary things. Equities, despite their short-term volatility, have historically rewarded long-term investors. That means someone with a thoughtful investment strategy isn’t just trying to survive a long retirement. They may actually have the opportunity to build a greater financial legacy than they ever imagined. More wealth passed on to children or grandchildren. More capacity to give generously. More options at every stage of the journey.

The same longevity that creates risk, when planned for well, can create remarkable reward.

Walking With You Through Every Season

When I sit down with someone who is approaching retirement, I’m not just thinking about year one. I’m thinking about year ten. Year twenty. Year thirty-one. I’m thinking about the season of life when travel slows down and healthcare needs pick up. I’m thinking about what it looks like to live with dignity and without financial fear, not just at 67, but at 87.

That requires two things working together: a cash flow plan and an investment strategy that are built as one. Not two separate conversations, but one integrated plan that maps your income, your spending, your withdrawals, and your portfolio across every phase of retirement.

Getting old isn’t always easy. But with the right plan and intention, it can be the most financially rewarding chapter of your life.

The information contained herein is for informational purposes only and should not be construed as financial, legal, or tax advice. Please consult with a qualified financial professional regarding your individual circumstances.