Envision and Map a Longer Healthy Life

Starner Group Team enjoying Forbes Conference together

• We all want to know what the future holds for the pandemic, but like any 2-year-old, COVID-19 is going to change a lot in the coming years. For now, a 4^th booster seems to be in the cards for those over 50.
• War in Ukraine has replaced Covid in the headlines and we are hopeful for the peace talks
• Market has been very volatile and unsettling…with all the action Dow is only down 4.6% for the quarter and YTD after being down as much as 12% during the quarter.
• Krystine Pereda rejoined the Starner Group in February to work on financial planning
• Adrian Tinoco's grandfather just celebrated his 100^th birthday with relatives from Italy, London, Venezuela and around the country attending the celebration.

As I wrote the above excerpt about the great genes in Adrian’s family, I feel obligated to revisit a subject I frequently research….Longevity Planning. Over the years, much of The Starner Group’s work has focused on a secure financial retirement to live the good life and pay for health care. However, due to modern medicine and technology, more and more of our clients/friends are living pretty healthy lives into their 90s and 100s, just like Adrian’s Nonno, who is still mentally alert and likes fishing.  

Nowadays, we have begun thinking about what to do with as much as extra 35+ years of living in retirement. When Social Security was passed in 1935, the average life expectancy at the time was 60 for men and 64 for women. Today, life expectancy in US is 77 for men and 81 for women. The trick is to make the longer years a gift and not a curse. 

To quote Dr. Laura Carstensen, professor of psychology and founder of Stanford’s Center on Longevity…Envision a good longer life. 

“When we ask people how long they expect to live, people tend to look to whatever ages their parents lived to, and that’s how long they think they’re going to live. That’s not a good measure anymore,” Carstensen says…. although we’ve added 30 years to our life expectancy, we’ve merely tacked them on to the end. She wants people to think about 90- and 100-year lives now, and make plans that take advantage of those extra 30 years throughout their lives. Pick up a new sport at 40, go back to school at 50, start a new career at 60. She says plan to work longer and differently. Working longer may mean one doesn’t need to save as much either! Interesting that Covid is changing how many are thinking about work…and so should Longevity. Based upon Carstensen, she advocates start early having a New Map of Life….maybe good to have with your Financial Plan.  

In closing, whenever anyone asks when I’m retiring…guess what…I’m just starting another growth phase of our business!! And remember, I began my career in Financial Planning after I was 40!

Sincerely,

Margaret C. Starner
Senior VP - Financial Planning
2333 Ponce de Leon Blvd. Suite 500
Coral Gables, FL 33134

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Source: Barron’s “Top 1,200 Financial Advisors,” March 2021. Barron’s is a registered trademark of Dow Jones & Company, L.P. All rights reserved. The rankings are based on data provided by over 5,000 individual advisors and their firms and include qualitative and quantitative criteria. Factors included in the rankings: assets under management, revenue produced for the firm, regulatory record, quality of practice and philanthropic work. Investment performance is not an explicit component because not all advisors have audited results and because performance figures often are influenced more by clients’ risk tolerance than by an advisor’s investment picking abilities. The ranking may not be representative of any one client’s experience, is not an endorsement, and is not indicative of advisor’s future performance. Neither Raymond James nor any of its Financial Advisors pay a fee in exchange for this award/rating. Barron’s is not affiliated with Raymond James.

Barron’s Top 100 Women Financial Advisors, (2021). Barron’s is a registered trademark of Dow Jones & Company, L.P. All rights reserved. The rankings are based on data provided by individual advisors and their firms and include qualitative and quantitative criteria. Data points that relate to quality of practice include professionals with a minimum of 7 years financial services experience, acceptable compliance records (no criminal U4 issues), client retention reports, charitable and philanthropic work, quality of practice, designations held, offering services beyond investments offered including estates and trusts, and more. Financial Advisors are quantitatively rated based on varying types of revenues produced and assets under management by the financial professional, with weightings associated for each. Investment performance is not an explicit component because not all advisors have audited results and because performance figures often are influenced more by clients’ risk tolerance than by an advisor’s investment picking abilities. The ranking may not be representative of any one client’s experience, is not an endorsement, and is not indicative of an advisor’s future performance. Neither Raymond James nor any of its Financial Advisors pay a fee in exchange for this award/rating. Barron’s is not affiliated with Raymond James.

Source: Forbes.com (January, 2021). The Forbes ranking of Best-In-State Wealth Advisors, developed by SHOOK Research, is based on an algorithm of qualitative criteria, mostly gained through telephone and in-person due diligence interviews, and quantitative data. Those advisors that are considered have a minimum of seven years' experience, and the algorithm weights factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices in their practices and approach to working with clients. Out of approximately 32,725 nominations received, based on thresholds, more than 5,000 advisors received the award. Portfolio performance is not a criteria due to varying client objectives and lack of audited data. Neither Forbes nor SHOOK receives a fee in exchange for rankings. This ranking is not indicative of advisor's future performance, is not an endorsement, and may not be representative of individual clients' experience. Neither Raymond James nor any of its Financial Advisors or RIA firms pay a fee in exchange for this award/rating. Raymond James is not affiliated with Forbes or Shook Research, LLC. For more information: www.SHOOKresearch.com.

The Forbes ranking of America’s Top 1,000 Women Wealth Advisors, developed by SHOOK Research, is based on an algorithm of qualitative and quantitative data, rating thousands of wealth advisors with a minimum of 7 years of experience and weighing factors like revenue trends, AUM, compliance records, industry experience and best practices learned through telephone and in-person interviews. Portfolio performance is not a criteria due to varying client objectives and lack of audited data. Research Summary (as of April 2019): 32,000 nominations were received based on thresholds (9,654 women) and 1,000 won. This ranking is not indicative of advisor’s future performance, is not an endorsement, and may not be representative of individual clients’ experience. Neither Forbes nor SHOOK receive a fee in exchange for rankings. Raymond James is not affiliated with Forbes or Shook Research, LLC. Please visit https://www.forbes.com/top-women-advisors/#28abc5bd51f4 for more info.

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