At a national financial planning conference this year, I heard a speaker who is a Medical Doctor turned Financial Planner. She has all new clients go to Livingto100.com and complete the online questionnaire with her. The questionnaire gauges probable life expectancy and enables the planner to estimate a possible end date (end of life) for the client’s financial plan. This is helpful not only for the retirement plan, but also to help clients understand the factors that insurance companies look at when calculating insurance premiums. For example, did you know premiums are much cheaper for people with BMI’s (body mass index) lower than 28?
Living to 100 asks for an email address at the end of the 15 minute questionnaire. I answered the questions and it came up with an estimated life expectancy of age 97. It also gives you feedback. For example, I was told if I cut my caffeine consumption I could add a 1/2 year to my life. That is not really enough to motivate me to change but you may find something that compels you to adjust current habits.
What do you think? Is this too personal? Or is there a benefit to adding something like this to the financial planning process? Share your thoughts with me by emailing email@example.com.