Jeff Stukey & Jay Olshansky discuss their approach to helping clients create a savings plan that makes sense for a successful future.
Listen to the interview on the Business Innovators Radio Network – https://businessinnovatorsradio.com/interview-with-jeff-stukey-jay-olshansky-ph-d-with-of-wealthspan-advisors-discussing-how-aging-science-impacts-retirement/
Wealthspan Advisors is a company that came into being because two scientists in the field of longevity study joined forces with two experienced financial advisors with a vision of helping people realize their most significant wealth and health by being aware of both and the impact each has on the other. By introducing aging science into the wealth planning conversation, they start with a foundation based on the client’s unique attributes and build a unique plan for them. The plan focuses on their healthspan and the gap that may exist with the lifespan and healthspan of their spouse, if applicable. It’s a conversation they’ve likely never had and an experience they’ve likely never heard of, but it’s instrumental in financial decision-making.
Aging science can play a crucial role in informing these decisions by helping to understand the physical and cognitive changes that occur with age. There are several factors to consider when planning for retirement, including health, lifestyle, and income. Aging science can help to understand better how these factors may change over time and what steps can be taken to mitigate any negative impacts. For example, research into aging has shown that physical abilities tend to decline. This can significantly impact the ability to continue working or enjoying leisure activities. However, there are ways to offset this decline through exercise and other healthy lifestyle choices. Similarly, cognitive decline is a natural part of aging, but some steps can be taken to protect the brain. Brain-training exercises, social activities, and a healthy diet are all important in maintaining cognitive function.
Aging science can also help to understand the financial implications of retirement. Overall, aging science can provide valuable insights into aging and the changes that occur over time. This information can inform decisions about retirement planning and help ensure a comfortable later life.
Jeff Stukey & Jay Olshansky say, “It’s our job to find out who you are, where you are, and what you want to accomplish so we can design a plan together to get you there. We will concentrate on several topics: risk management, distribution or income planning, RMD and tax planning, estate planning, and longevity planning. The financial products are only recommended because they will help you accomplish your goals – that’s the only thing that matters. As independent fiduciary advisors, we are held to a legal responsibility to make recommendations that are in your best interest with no conflicts of interest based on how we get paid. The fact that we are independent also means we don’t have any proprietary products or company quotas we need to meet. So, you can rest assured that any recommendation concerning any financial product is made with your best interest in mind.”
Get a copy of their book, “Pursuing Wealthspan: How Science is Revolutionizing Wealth Management,” visit: https://www.wealthspanadvisors.com/
About Jeff Stukey & Jay Olshansky, Ph.D
Jeff has been in the financial services business for over 20 years. Most of his time has been spent in executive-level roles helping train hundreds of financial advisors around the country on how to better plan for and serve their clients. He deeply understands financial planning and the financial products that can be used to create the desired outcome for clients. After watching his parents work hard, but struggle financially for most of his childhood and early adult life, Jeff set out to help clients become more educated and get better advice to help them grow and protect their wealth so they could live their best lives. Because of the experience gained over the last 20+ years, Jeff has been able to communicate well with clients, understand what they are trying to accomplish, and help put them in a position to really thrive in and throughout retirement.
Jay Olshansky received his Ph.D. in Sociology at the University of Chicago in 1984. He is currently a Professor in the School of Public Health at the University of Illinois at Chicago, Research Associate at the Center on Aging at the University of Chicago and at the London School of Hygiene and Tropical Medicine, and Chief Scientist at Lapetus Solutions, Inc.The focus of his research to date has been on estimates of the upper limits to human longevity, exploring the health and public policy implications associated with individual and population aging, forecasts of the size, survival, and age structure of the population, pursuit of the scientific means to slow aging in people (The Longevity Dividend), and global implications of the re-emergence of infectious and parasitic diseases. Dr. Olshansky is on the Board of Directors of the American Federation of Aging Research.
Investment Advisory Services are offered through Wealthspan Investment Management, LLC, a state-registered investment adviser. The commentary is for informational purposes only and should not be deemed as a solicitation to invest, or increase investments in any Wealthspan Investment Management, LLC products, or affiliated products. The information contained herein is not intended to provide any investment advice or provide the basis for any investment decisions. Please consult a qualified professional before making decisions about your financial situation. Information and commentary provided by Wealthspan Investment Management, LLC are opinions and should not be construed as facts. There can be no guarantee that any of the described objectives can be achieved. Past performance is not a guarantee of future results.