Assessing Both Longevity AND Mortality Risk for More Effective Retirement Plans

Concerns about outliving one's money often lead advisors to develop financial plans based on the assumption of a longer lifespan. Step 7 in CFP Board's Financial Planning Process emphasizes the importance of monitoring and updating the plan. Just as selecting an appropriate plan duration is crucial, regularly revising the plan as clients age is equally important to effectively manage longevity risk.

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