October 25, 2022 Julie Hyslop


“The number of people aged 85 and over has more than doubled in the last 20 years ~ an increase of 110 per cent.” (1)

Traditionally working with a financial adviser to plan for retirement, we were presented with three distinct life stages of education and training, work then retirement but over recent years the lines have blurred, and many people are working part-time well into their 70’s. Also, throughout their whole working lives many people are undertaking education and further learning, with statistics showing that one in three men and one in five women aged between 65-75 were engaged in some work and or study. As we are living longer, we are moving away from a three-stage process into a more flexible and less linear planning process.

Longevity sees a shift away from seeing an aging decline as a life stage, but instead we need to reframe aging as a transitional period to inventing what we move on to next, such as changing from full time work to part time work. Much the same way as younger people are studying longer but are more inclined to take on work in their field before they finish their studies, or people are now reskilling or requalifying for one or more new careers over their working lives. The stages of work, education and retirement are becoming much more intertwined.

“Between 2008 and 2018 the employment rate in people aged 55 years and older grew by 100 per cent” (1)

From a financial planning perspective, the fact that people are living longer provides a critical focus on client’s health and finances. While there are great opportunities in harnessing experience and insights people have to offer as they enjoy longevity, there are also the challenges presented as they know they will need to have an income in retirement that they don’t outlive. Never has it been more important that clients are presented with a continuous and regenerating income stream that they know will be available whatever age they live to.

The successful investment strategy that Income Solutions has developed over the last 30 years perfectly caters for the emerging increase in longevity. We focus first on the income component of an investment and its potential for long-term sustainable growth (2). Over the long-term and into retirement, this will provide our clients with a continuous income throughout their lives no matter how long they live, and by not relying on their capital base for expenses, they will be able to leave a meaningful legacy for those that they love rather than a depleted or nonexistent Capital Base.

Further describing an ‘income that you don’t outline’ is the following video Titled ‘Your Tree’ presented by Income Solutions founding Adviser David Ramsay https://vimeo.com/460822636 Using the analogy of an apple tree to describe an asset, he explains that the income your asset produces, the ‘apples’ it grows that you have access to picking will serve you better than ‘lopping off a branch’, and thus decreasing the size of your principal asset or Capital Base.

At Income Solutions we adopt an investment and financial planning strategy that ensures that living longer into retirement is an exciting life stage, free from financial stress.

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