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Underestimate Life Expectancy

469 Words2 Pages

Goal: to post about what happens when retirees underestimate their life expectancy for CPAs to use for their clients
Total Word Count In This Document: 469
Title: ?What Happens When Retirees Underestimate Their Life Expectancy??

If you are a CPA who serves clients who are retirees or are preparing for retirement, then it is important to know all of the potential financial situations that could arise and how best to deal with them. One important situation that you must know and be ready for as a CPA with retiree or soon-to-be-retiree clients is what happens when retirees underestimate their life expectancy.

One of the main reasons why people change their retirement plans is because they have underestimated how long they are likely to live. One of the key factors to a retirement plan being a successful one is one that establishes realistic expectations for life expectancy, which also affects how much money a person needs for …show more content…

You need to develop a viable plan to draw down their assets while also maintaining a comfortable, enjoyable retirement lifestyle that helps them with their family support and charitable giving goals. You should help your retiree clients understand how important their life expectations are, and how they should never be underestimated or even overestimated when it comes to planning for and managing their retirement, as well as what their expected spending levels should be in retirement based on these life expectations. The more work that you help them put into creating these realistic projections and life expectations, then the less likely that your clients are going to stress out and work to make drastic changes to their retirement plans when it turns out that they had underestimated their life

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