Live Long And Prosper? Yes, It’s Possible (NAPSA)—Life expectancy in the United States is increasing. According to government data, today’s 65-year-old will likely live beyond age 85, anda little more for 1/3 women, whotendto live longer than OF AMERICANS size of that age group today. Oneproblem is that expenses are DON'T BELIEVE THEYWILL BE FINANCIALLY PREPARED TO LIVE TO 85. men. By 2040, 79 million Americans will be 65 or older, nearly double the keeping pace with the uptick in longevity. The realities of inflation, climbing health care costs and insufficient savings are putting a damper on the prospect of a longerlife for a good numberofAmericans. In fact, Northwestern Mutual’s 2014 Planning & Progress Study found a full third ofAmericansdo not feel financially prepared to live until the age of 85—which may help explain why one in three adults does not think he or she will everretire. The good news is that it is never too late—or early—to overcome the financial security fear factor. Here are some ideas on building a financial foundation that can help extend yourlifestyle through yourlife span. Fail to plan, plan to fail— Nowhereis that saying morevalid than with financial matters. Northwestern Mutual’s 2014 Planning & Progress Study also found that disciplined planners feel significantly more financially secure and happy in retirement. In addition, the lack of effective planning was one of the top reasons cited for why some Americans feel they are “playing catchup” with savings and investments. ce: NorthwestemMutual's 2014 Planning &Progress Study We Northwestern mul Silence is not golden—While conversations about money can be difficult, they are essential. Since partners and, in some cases, adult children have a stake in financial decision making,it is important to work collaboratively on refining financial priorities and accountabilities. Long-term care is one exam- ple of a planning consideration that tends to impact the entire family. Don’t go it alone—An overwhelming majority of Americans do not have a financial adviser even though research suggests there is a correlation between pro- fessional guidance and financial security. An expert can take an objective look at your resources and goals, counsel you on the mer- its of various risk and investment solutions, and devise a strategy to meet immediate and future needs. To learn more about how you can secure your financial future, talk to an experienced adviser or visit the Northwestern Mutual Online Learning Center on www.nm.com for a wide range of information and resources.
