Time To Double Down
I
have a confession. I crossed the big
60 last month, and it has given me
cause to pause and assess where
I am and where I'd like to go in the
years ahead. To my surprise, I find
that I share some keen views
with Oprah who turned 60
in April and aptly said, "I'm
not one to get hung up on
numbers, but if you want
to say 60 is the new 40, I'll
take that. You can be and do
whatever you want, thanks to
exercise and hair color."
To those of you who know
me well there are clear tru-
isms in Oprah's words. For the
past 20 years, I've endorsed a
regimented schedule of exercise with the
goal of being fit and attempting to slow
the progression of age.
I've said, stay fit, keep an active
schedule and you will be able to main-
tain a vigorous workload and stay pro-
ductive for as many years as the situ-
ation warrants. Turning 60, however,
causes increased reflection.
Have you entered the last 20-year
quadrant of an 80-year life cycle? If so,
75 percent of your life is history and
only the "last" 25 percent remains. If,
instead, the target lifespan, with the
benefit of exercise, smart living and
continued advances in medicine, is
extended to 100, then 60 is only the 60
percent bench mark and 40 percent of
your life remains.
I like this thought, as long as those
years from 80 to 100 are quality ones.
Granted luck and gene pool are major
quality-of-life factors beyond our con-
trol. Taking care of ourselves is within
our control. Too few people exercise in
a dedicated and serious manner before
they turn 60 and even fewer after. But,
in my view, it is the post-60 stage that is
the most critical.
You need to "double down" in this
stage, meaning that it is twice as impor-
tant from 60 and beyond to do adopt
a strong, heart-challenging routine of
exercise. You want to live
longer and you want that
remaining 40 percent to
be good— to feel good, be
healthy and enjoy life. So
double down — join that
club, get the trainer, do what
you need to do, but do it.
Another reality: If you
are going to live to 100, you
need to financially plan for
it so that you do not exhaust
your retirement funds.
I tell my elder clients not to allow
themselves to run out of money and
only have Social Security to cover their
last 10 years.
For me, the eye opener is that these
words are now applicable to me!
Beyond this, the longer we live and the
more medicine advances, the greater
chance we may face the prospect of the
eventual need for nursing home care, so
we need to plan and make sure we pro-
tect our finances so that our remaining
assets are not lost to Medicaid.
The clock keeps ticking for those of
us who are lucky. It's up to us to make
the best of it. Planning includes exer-
cise, diet and a fiscal plan that is consis-
tent with the goal of reaching 100.
So get started now and forget any
notion that it's too hard or too late. As
to Oprah's comment on hair color, I
have no comment.
❑
Ken Gross is an attorney with Thav Gross
and host of The Financial Crisis Talk Center
show that airs weekly at 9: a.m. Saturdays
on WDFN-1130 AM, "The Fan" and 11 a.m.
Sundays, on MyTV20.
President Obama views Mobileye in action— see video at afhu.org/CGA2
On his recent state visit to Israel, President Obama received a demonstration of
Mobileye from Amnon Shashua, the Sachs Family Professor of Computer Sciences at
The Hebrew University of Jerusalem. Mobileye, an Advanced Driver Assistance System,
saves lives and boosts automotive safety.
The Hebrew University of Jerusalem
is an engine of innovation and
discovery for Israel and our
global community.
AFHU Hebrew University
Gift Annuity Returns
When you create a secure AFHU
Hebrew University Gift Annuity—
with its high lifetime return, tax
deductions and annuity payments
that are substantially tax-free—
>> memos
Barris, Sott, Denn &
Driker PLLC is
pleased to announce
that Marc E. Seyburn
has joined its tax
and estate planning
' ■ department. He spe-
cializes in structural
Seyburn
planning, flow-
through taxation, cash-flow modeling
and investments. He also handles jet
acquisitions and has experience with
Michigan's incentives for apps, interac-
tive websites and other digital produc-
tions. Seyburn is a graduate of Wayne
State University Law School, University
of Southern California's Leventhal
School of Accounting and the
University of Michigan.
It drives the next
generation of
technology.
Andrew H. Moss has
been with Merrill
Lynch for 20 years.
He is a senior vice
president - wealth
management and a
principal with the
Frank/Moss Group
Moss
of Merrill Lynch in
Bloomfield Hills. He has been a co-
head of the Frank/Moss Group since
its inception in 2002. The group han-
dles the financial affairs for a select
number of families and its main focus
is creating financial outcomes to
improve client's financial lives.
your annuity drives Israeli-led
innovation toward a better future.
Age
Rate
67
6.2%
7o
6.5%
75
8o
7.1%
85
8.o%
9.5 %
90
11.3%
Rates are calculated based on a single life.
Cash contributions produce annuity payments
that are substantially tax-free.
Share in the vision of Albert
Einstein, a founder of The Hebrew
University. Help propel a catalyst
CALL OR EMAIL NOW.
THE RETURNS ARE GENEROUS.
THE CAUSE IS PRICELESS.
for research and learning that
strengthens Israel and transforms
our world.
For information on AFHU Hebrew University
Gift Annuities, please call AFHU Midwest
Region Executive Director, Judith Shenkman at
(312) 329-0332 or email: jshenkman@afhu.org
The Hebrew University of Jerusalem
Research engine for the world. Engine of growth for a nation.
Ale H <U
AMERICAN FRIENDS OF
THE HEBREW UNIVERSITY
500 N. Michigan Avenue, Suite 1530
Chicago, IL 60611 • 877-642-AFHU (2348)
afhu.org/CGA2
1896210
July 10 • 201z 31