By Kathleen Longo on October 23, 2014
I just returned inspired and appreciative from the annual BAM Alliance conference in St. Louis. I continue to be impressed with the investment and wealth management resources that are available to Flourish Wealth Management by partnering with the BAM Alliance. The Conference also provided a rewarding opportunity to connect with the 140 plus independent firms that are members of the BAM Alliance.
The conference was filled with amazing speakers such as Madeleine Albright, former Secretary of State, Michael Lewis, accomplished author, and Eugene Fama, whose work has shaped our firm’s investment philosophy and won Mr. Fama the Nobel Prize in 2013. The final day concluded with speaker Maddy Dychtwald, who is a leading expert on the changing demographic trends. In her speech, Maddy described the “longevity bonus” which are defined as the 30 years added to lifespans in the 20th century. These extra years keep coming as confirmed by a new report on mortality in the USA from the Centers for Disease Control and Prevention's National Center for Health Statistics, which states that life expectancy has reached a record high of 78.8 years. This figure is actually 81.2 years for females. As we continue to live longer, it is important to develop plans to maximize our enjoyment of these bonus years.
A common misperception is that the bonus years are the ones tacked on at the end of life. However, what if you were to think about the bonus years throughout life? What would you do differently if you had access to those years now?