Here’s the good news: Life expectancy at birth rose 0.1 percent in 2018, increasing to 78.7 years for the total U.S. population. So, how does that factor into your everyday financial strategy? For starters, there’s more time to do what’s needed – address health issues, plan for the future, travel.

Year-over-year, Data from the National Vital Statistics System showed the 0.1 percent was exact for males, females, and people at age 65:

• For males, life expectancy rose from 76.1 years to 76.2.
• For females, life expectancy increased from 81.1 years to 81.2.
• At age 65, life expectancy for the total population was 19.5 years.

The United States posted declines in life expectancy from 2015 to 2017, due mostly to the opioid crisis. The decline was the first since 1993, during the AIDS epidemic. However, demographers caution it is too early to tell if opioid overdoses are truly spiraling down.

Cancer mortality rates dropped about 30%, the most significant gain within life expectancy gain in 2018. Unintentional injuries – drug overdoses, vehicle accidents, etc. – fell nearly 25%, driven mostly by the decline in drug deaths.

One thing, however, remains constant: The need to finance your life as you grow older.

Senior planning should be holistic – financial, medical, and emotional – to ensure sound fiscal management of your golden years. In case you missed it, Betty White recently celebrated her 98th birthday, and I’m proud to have worked for more than 15 years with the treasured Golden Girl to help raise financial awareness to seniors and the seriously ill.

With life expectancy increasing, I provide insights for seniors wanting to reduce expenses and generate extra income. That equation is paramount to enjoying a more vital life. Among the topics we discuss are long-term care insurance policies, reverse mortgages, or retirement communities – areas where guidance and trusted advice are invaluable.

If you’re seeking practical advice for building a secure and fulfilling future before and after retirement, reach out to start the conversation for your better tomorrow.