You’ve likely heard of lifespan and ‘healthspan’, but what about ‘wealthspan‘? Lifespan refers to the length of time you can expect to live, and healthspan is how much of that time you can live in good health. But as we think about living longer, healthier lives, it’s crucial to also consider wealthspan—the length of time your financial resources can support you. Suppose you’ve made it – in good health – to the age of 85. What next? The averages suggest you can now expect to live at least another 7 years to the age of 92. Will you have the means to continue supporting yourself? Let’s break down how you can start planning for a wealthspan that supports your long-term goals, just as you would plan for your healthspan.
