Planning Ahead for Longer Lifespans
Barron’s, June 8, 2018 – President & CEO Leslie Voth discusses Wealth at 100 with Barron’s reporter Abby Schultz.
“‘A generation ago it would have been unthinkable to have a 90-year-old client still making decisions and still managing the family’s wealth,’ Voth says. ‘Today we have multiple clients where that’s the case.’
People are simply living longer, well into their 80s and 90s. In an upcoming report for clients, Pitcairn points to data indicating ‘a quarter of 65-year-olds will live past age 90, and one in 10 will live past age 95.’
The problem is wealthy individuals aren’t preparing to live longer. Instead of figuring out how to pay for healthcare or to preserve financial assets to cover day-to-day needs years into the future, they look more narrowly at questions like estate planning and tax efficiency.”
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