Are people living longer? The answer is a resounding YES! Recently a member of our client community brought his dad to a Frankie Valli concert. Frankie Valli, the living legend, who is turning 84 in May, performed for close to 3 hours in front of a crowd of 5500 people in Fort Lauderdale at the local Hard Rock Café/Casino. As if that wasn’t an incredible enough display of vigor even for a 25 year old, (this accomplished by Valli as a 83 year old!), the “Dad” I mentioned above was “dancing” in the 15th row during most of the show. That Dad was an 89 year old man. In fact, there were a lot of “seniors” in the crowd, and they were living it up.
Now what does that have to do with the Required Minimum Distribution? Life expectancy has increased to the point that the government posted the new Required Minimum Distribution (RMD) schedule for IRA accounts; they posted the latest RMD age at 115 years! I am guessing our government research has found that indeed, people are living longer!
With the miracles of health and medicine extending our lives so significantly, I’d like to check in with all of you, to see if you need another look, or someone you know needs a second opinion on their financial life. Along with our longevity, comes a greater potential to either grow our wealth, (pay more taxes?) or run out of money, depending on your circumstances. We don’t want any concerns you may have from recent news about longevity to get in the way of the joys of life. To put you and the people you are close to at ease in that department, call us at (206)528-2001 and tell us your unique situation. We’ll provide a fiduciary based 2nd opinion so that you get the most out of your financial life. That way you and those you care about can focus on getting the most out of the other areas of your life, the things more important than money, true wealth!