Are you an ostrich with your head in the sand?

The Society of Actuaries (SOA) has published a survey showing that nearly half (48%) of Americans aged 45-70 have no financial plans in place to protect against outliving their assets and the rising cost of healthcare should they live longer than expected. Other results show that more than a third are worried about retirement money missing, but the plan only 20% for the purchase of an annuity or some other form of guaranteed income for life to protect their belongings. Many baby boomers find themselves prepared to maintain their retirement lifestyle. They see the potential problem, but take no action. The survey revealed that almost three quarters (71%) of respondents plan to claim Social Security before age 70 years

The SOA said he can not stress enough the importance of having a plan in place that addresses all the specific risks may face in retirement, such as spending available assets too soon, meeting financial care needs, paying for rising costs of healthcare and adjusting financially to the loss of a spouse.

The SOA survey found that 75% of Americans ages 45-70 protect their tangible assets, such as their homes through home or renter's insurance; However, the plan 19% to ensure the extra costs of disability and welfare by purchasing long-term care insurance. These results reinforce my belief in the importance of working with professional agents and financial advisors who can guide people in their decision making. Many people are not aware of these problems until their agent or consultant educates their needs and affordable solutions to problems.

Act now while your health is good and the price tag for solving your planning problems is reasonable.