The Age of Experience: Always Improving

Retirement Planning

The Age of Experience: Always Improving

Posted by COTO Insurance & Financial Services
4 years ago | December 23, 2019

It’s not just fine wines that get better with age. We also are always improving — growing more confident over time, having met challenges and overcome them. Our decision-making gets easier. We develop coping mechanisms to handle stress. And we grow wiser. Our knowledge and experience accumulate as a strong foundation we continue to build upon.1 It takes time to build that foundation of knowledge, and learning never ends.

One area where a solid foundation of knowledge is essential is managing our finances. Sometimes that knowledge is gained through mistakes. However, one of the perks of growing older is realizing that you don’t know everything — unlike your 26-year-old self — and that it’s OK to seek help. That’s where we come in. If you’re thinking about your retirement income strategy — perhaps with an eye toward greater financial confidence in retirement — please give us a call. We’re happy to review insurance options appropriate for your goals and circumstances.

It’s also worth considering that we can continue to work on our health throughout our lifetimes, as well. Some people will encounter issues that slow them down, and there’s not a lot they can do about it. But for many of us, we have some control over how well we take care of our health, and we shouldn’t take that for granted. After all, good health — characterized by regular exercise, a nutritious diet and preventive medical care2 — can have a positive impact on our finances, by helping us save on health care costs.

What we consider “older” and “younger” is all relative, as evidenced by men’s professional tennis. While dozens of teens and 20-somethings continue to climb the ranks each year, it is the “old-timers” — with their match experience and mature presence of mind — who dominate the top spots:3 Roger Federer (age 38) at No. 3, Novak Djokovic (age 32) at No. 2 and Rafael Nadal (age 33) at No. 1, reign for 2019.4

If 38 seems too young to be considered an “old-timer,” how about 110? A recent study of the DNA of “supercentenarians” (people age 110 and older) found that these individuals tend to have a different variety of white blood T cells that attack viruses and cancer cells. Apparently, sometimes we don’t find out what our “superpower” is until later in life.5

And despite the early business successes of younger startup superstars like Mark Zuckerberg and other “dot-com millionaires,” the average age of successful entrepreneurs in the United States is in their 40s. Researchers say this is because benefits accumulate with age. By benefits, they are referring to business networks (e.g., partners, potential employees, suppliers), financial resources (e.g., personal wealth, excellent credit score, potential investors) and experience gained over a career.6

Content prepared by Kara Stefan Communications.

1 Life Care Services. July 10, 2019. “9 things that are better with age.” Accessed Nov. 14, 2019.
2 WebMD. April 24, 2018. “9 Scientific Secrets to Healthy Aging.” Accessed Nov. 14, 2019.
3 Christopher Clarey. The New York Times. Sept. 9, 2019. “Rafael Nadal Shows Why the Young Guard Will Have to Wait.” Accessed Nov. 14, 2019.
4 ESPN. Men’s Tennis ATP Rankings 2019. Accessed Nov. 22, 2019.
5 Sam Blanchard. Daily Mail. Nov. 14, 2019. “Supercentenarians who reach 110 ‘have unique turbo-charged immune systems to fight off cancer and infections.’” Accessed Nov. 14, 2019.
6 Knowledge@Wharton. Nov. 12, 2019. “Why Older Entrepreneurs Have the Edge.” Accessed Nov. 14, 2019.

We are an independent firm helping individuals create retirement strategies using a variety of insurance products to custom suit their needs and objectives. This material is intended to provide general information to help you understand basic retirement income strategies and should not be construed as financial advice.

The information contained in this material is believed to be reliable, but accuracy and completeness cannot be guaranteed; it is not intended to be used as the sole basis for financial decisions. If you are unable to access any of the news articles and sources through the links provided in this text, please contact us to request a copy of the desired reference.


949-858-7200 |