Most people know that the average American lives to an age between 75 and 80. Less well known, apparently, is that life expectancy rises with age. At age 60, an American man can expect to reach 82; a woman, 85.*

Things to consider

The decisions you make early in retirement will inevitably affect your lifestyle for years to come. How you spend and how you choose to draw-down assets can make all the difference between financial confidence and uncertainty.

Watch your spending

After decades of saving, it’s only natural to want to splurge. Spending too much too soon could jeopardize your future.

Have a plan for drawing-down assets

The sequence in which you liquidate taxable, tax-deferred, and tax-free assets can impact how long your savings last.

Think strategically about RMDs

While IRA distributions can serve as an important retirement income source, they can also be preserved for the next generation.

Plan for potential LTC costs

According to the U.S. Department of Health and Human Services,^** a person turning age 65 today has almost a 70% chance of needing some type of long-term care services in their lifetime, which are not covered by Medicare.

^{* "Retirees are underestimating how long they will live.” The Hill. July 3, 2023.}
^{** "How Much Care Will You Need?" U.S. Department of Health and Human Services, Administration for Community Living, LongTermCare.gov.}

What to ask your Financial Advisor

Based on my investments, what’s a sustainable spending rate that I can safely plan on?
In addition to Social Security and my pension, are there other ways to generate guaranteed income?
Am I taking on the right amount of investment risk to meet my income needs and outpace inflation?
What should I do with my company retirement plan and/or concentrated stock?

Talk to a Janney Financial Advisor

You don’t have to navigate your financial journey alone. Wherever you are today, a Janney Financial Advisor can help you create a personalized plan aligned with your goals, priorities, and evolving needs. With thoughtful guidance and strategies tailored to your unique circumstances, we’ll work with you to build a plan designed to help you Plan for More™ — today and in the years ahead.

Connect with an Advisor