Living Well Campaign To Help Families Plan For Optimum Wealth And Health

As health care costs continue to escalate and as many as 30 million individuals are expected to reach retirement over the next 10 years and remain in retirement decades longer than previous generations.

Many Americans face not only the possibility of their own health-related expenses, but increasingly,

for their parents and elderly relatives, putting families on a possible collision course to outlive their savings.

Given this scenario, Northern Trust, a leading provider of wealth management services for affluent individuals and families, and PinnacleCare, leaders in health care advocacy, have collaborated to provide a first-ever guide to help people approach financial planning with a new twist: financial well-being is not enough; families must adopt a preemptive health plan to enable them to enjoy their wealth.

The landmark pairing of health and wealth management experts began with the creation of a detailed 52-page booklet entitled, "Living Well, Your Guide for Lifelong Health and Wealth Planning." Due for release on June 21, the first day of summer and an ideal time for fresh health and wealth resolutions, the guide introduces three new factors that come into play when planning for a life of optimum wealth and health.

"Chances are when most people think about their financial and physical well-being, they see them as separate aspects of their lives," said Sherry Barrat, president Personal Financial Services, Northern Trust, "but this attitude is changing as people discover that age-related health issues have a direct bearing on their finances. That's why PinnacleCare and Northern Trust have created a helpful roadmap for each to offer insight into some of the issues families may encounter today and in the years ahead."

"PinnacleCare's compilation of proven medical prevention advances and health management techniques, applicable from childhood through elderly years, dovetails remarkably with Northern Trust's age by age wealth management advice," said Miles Varn, M.D., chief medical officer, PinnacleCare.

The "Living Well" guide is based on three new trends to promote and protect health and wealth:

-- Prevention -- New cutting edge diagnostic tools, both in financial planning and health care, and medical research allow individuals to assess their risk factors more precisely than ever in history, permitting early intervention well before serious issues begin to come into play. "The best way to prevent financial mistakes is to begin planning early, and discuss goals with family and advisors to help save and invest for what is projected to be a much more expensive retirement, one that can last decades longer than in previous generations and may involve caretaking for older generations," commented Barrat.

-- Proactive Planning -- Achieving financial goals requires the creation and implementation of a comprehensive financial plan. Proactive planning can help determine not only trade-offs between current and future financial needs, but also which expenditures are necessary to ensure a sound financial base. Explained Varn, "Similarly, the focus of medical practice has shifted to proactive promotion of life-long good health. How people live their lives also can significantly affect their long-term financial health."

-- Professional Partnerships -- Open communication with experienced medical and financial advisors is key to navigating complex issues and ensuring that recommended solutions reflect physical and financial needs. "Astoundingly, clients of a typical wealth management firm may have access to 14.5 million combinations of products and services, and though people have more information available than at any other time in history, they still need professional advice to help guide them to a solution for their unique needs," noted Barrat.

The "Living Well" guide provides details and sources to support all these crucial new factors in financial and health decision making. "Consumers are right to take a show-me attitude towards these essential matters of health and wealth. In the financial arena, financial experts educate as much as they advise," notes Varn. "In health, getting professional advice, second and third opinions and cutting edge medical research is the path to your best health," noted Varn.
source:www.emaxhealth.com