It’s the conundrum of our time: With so many people living longer — and not always better, let’s be honest — how do you craft a financial plan that will deliver your best possible quality of life, for as many years as you need?
When confronting how to manage longevity risk in retirement, the temptation is to focus on making sure your money lasts as long as you do, and ideally well beyond. And while no one wants to outlive their resources, the new longevity, as it’s been dubbed, is pushing retirees and their advisers to rethink what the components of a truly resilient long-term plan should look like.
