Download the following support materials:

Field Guide to Social Security
Social Security Workbook

Why It Matters:
  • Clients need your help preparing financially for longer lives.
  • Retirement isn’t a one-size-fits-all age.
  • Your clients’ health has a direct impact on their wealth.

Helping your clients understand the importance of a financial plan has never been more crucial. In general Americans are living longer. And the Stanford Center on Longevity’s Sightlines Project reports that 75% of Americans want to live to be 100. If your clients are like the majority of Americans, they’re going to need a strategy to protect their wealth and their health. That’s where you come into play.

How you can help your clients live well and live longer?

Educate clients on the finances of working longer

For many adults approaching 62, it can be tempting to trade in work life for one of leisure. However, there may be significant financial gains to be made by staying in a career a few years longer. Waiting until 70 to claim Social Security benefits can mean an increased monthly payment of 75% for many clients. And the longer they work, the more your clients can contribute to their 401(k) plans or similar retirement plans.

Share the benefits of working longer

Working longer isn’t only good for finances. The Journal of Epidemiology & Community Health reported in 2016 that working just one year more resulted in an 11% lower risk of mortality among healthy study participants. The Sightlines Project also lists healthy habits as one of the key factors that can lead to living better, longer. The study gives specifics for healthy habits including diet and exercise as well as risky behaviors, which include smoking, excessive drinking, and drug use.

Ask about social engagements

Your clients may not recognize the importance of social engagements at work. From daily interactions with co-workers and being part of something bigger than themselves, to opportunities to volunteer through work, the social paycheck of work is more valuable than they may know. The Sightlines Project also includes social engagements as a key to longevity. Even if your clients are self-employed, homemakers, or already nearing retirement, include social engagements in the retirement readiness conversation.

Discuss alternatives to full retirement

Not all clients are ready to fully cut the professional cord, and that’s OK. A study from the nonprofit Transamerica Center for Retirement Studies® outlines a new way retirees are thinking about retirement. Flexible retirements offer many of the benefits listed above but with a more flexible schedule. A flexible retirement can allow clients to stay engaged and active, and earn income without committing to a 40-hour week.  

Things to Consider:

Transamerica Institute® is a nonprofit, private foundation dedicated to identifying, researching and educating the public about retirement, health coverage, and other relevant financial issues facing Americans today. Transamerica Institute comprises two divisions: Transamerica Center for Retirement Studies® and Transamerica Center for Health Studies®. Transamerica Institute is funded by contributions from Transamerica Life Insurance Company and its affiliates and may receive funds from unaffiliated third parties. For more information about the Institute, please refer to