Summary:
The Longevity Chart uses data from the Office of National Statistics to estimate a person's chance of survival.
The grey line represents the survival probability: It is the chance that an individual (or at least one member of a couple) will survive until any given age.
The blue line represents the Portfolio Success Rate: This is the likelihood of the portfolio being sustained at a particular age.
The green line represents the Longevity-adjusted success rate: This metric calculates the probability that a client's portfolio outlives them.
The Longevity Chart can help clients plan for a long and healthy retirement.
By incorporating the Longevity Chart into your financial planning process, you can provide more comprehensive advice to your clients.
All plans on Timeline are set to last until the 10% chance of survival. You can go into plan settings, to length and legacy, and change it.
Full video:
Description:
As financial advisors, you constantly search for ways to provide your clients with the best financial planning advice. You work hard to understand their needs and goals and provide guidance to help them secure their financial future. But what if there was a tool that could help you give even more comprehensive advice, one that could help your clients plan for a long and healthy retirement? This tool exists, and it's called the Longevity Chart.
The Longevity Chart is a tool that estimates a person's life plan based on various factors such as age, gender, and health status. By using this chart, financial advisors can help their clients plan for a long and healthy retirement, taking into account the possibility of living longer than expected.
Imagine you have a client named Sarah, who is 65 years old and in good health. She wants to retire in the next few years but worries about outliving her savings. As her financial advisor, you can use the Longevity Chart to help her understand how long she might live and how that affects her retirement planning.
The Longevity Chart is an incredibly valuable tool for financial advisors that can help provide clients with a complete picture of their financial future. By using this tool, you can help your clients plan for a long and healthy retirement, giving them peace of mind and the confidence to enjoy their golden years.