For a financial planner, it’s critical to know clients’ assets and cash flow to arrange investments to best meet financial goals. But the most important figure to really make accurate financial plans is the “end date” of the plan. 

Immortality 

The only reliable life expectancy calculator is owned and maintained by The One Above. While our actions on earth can perhaps influence our timeline (more broccoli or chessed?), it may be appropriate to consult with a “life expectancy calculator” while planning. Recently, I inserted my own details into a calculator and was surprised by the answer. 

Practically, a longer lifespan translates into “smaller current spending/larger savings,” yet I would gladly swap living-large today to be able to meet my great-grandchildren. Faced with “33 more years,” my brain screamed “So much to do, so little time!” 

Reflection 

The additional years given to me by the Social Security longevity calculator website roughly correspond to the number of years I’ve spent as an adult. I’m at a crossroad, halfway there. 

It took years to decipher who I am and what I want to do. As I grow older, I realize those answers are fluid, and need to be re-examined on a regular basis. Now, seeing the finish line, even if it is decades away, I feel the pressure of deciding, and living, quicker.   

As one ages, bones creak and eyesight weakens, but love, thinking, determination, and resolve can continue to strengthen. 

That’s it? 

Small print on the bottom of the Social Security website notes that the result doesn’t take into account a wide variety of factors that could alter the outcome. If I designed the page, I’d add an additional note: “Choose how you spend both your time and your money wisely.” 

Time is money. Often folks will think twice about spending money, but not about spending time. If you value your time as much as your money, it may be appropriate to rethink how you spend both. Read this blog piece, Profile-Financial.com/time, on more tips for how to make the most of your two most valuable assets, time and money, and then call 02-624-2788 for help in ensuring your U.S. dollar portfolio is set up to maximize both. 

Douglas Goldstein, CFP®, GFP®, is the director of Profile Investment Services, Ltd. www.profile-financial.com. He is a licensed financial professional both in the U.S. and Israel. Call (02) 624-2788 for a consultation on how to set up your American assets to meet your financial goals. Securities offered through Portfolio Resources Group, Inc. Member FINRA, SIPC, MSRB, FSI. The opinions expressed are those of the author and not those of Portfolio Resources Group, Inc. or its affiliates. Neither PRG nor its affiliates give tax or legal advice.

Published April 21, 2022.

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