September 24, 2014 Fact of the Day: What Should Advisors Do As Their Clients Age?
Millionaire investors receive mostly investment related advice from their financial advisors. We believe this will change in the future. Why? The average age of Millionaires is over the age of 60. In the future, they are going to start turning to their advisors for things such as planning for long-term care and estate planning. Both long-term care insurance and estate planning are critical for all of us in the next few years, regardless of your age. If you are over the age of 50, you should be thinking about how you and your family are dealing with long-term care. Almost every family has had some experiences with family members who need assistance as they age. The earlier you deal with long-term care, the more affordable it is.