When it comes to financial planning, health care must be top of mind. Why? Because studies have concluded that health-care costs in retirement will be around $220,000.
It's for that reason financial advisors must not just look at the hard data. After all, saving, spending, investments, insurance and estate plans are relatively straightforward.
Historically, financial planners have used this hard data to make recommendations on what clients need to create financial security in the present and the future. However, we know intuitively there is more to the picture than the hard data that affects the outcomes for the client. One variable that can greatly affect a plan is the state of a client's health—and his or her attitude toward taking care of it.