Episode 14

Published on:

25th Aug 2023

#14: Healthspan vs. lifespan. How your health affects your financial plan as you age and how you can hedge the risks.

It’s no secret that as we age, health issues become more frequent.  As the name of this podcast suggests, “Prosperous and Happy” also includes the notion of quality of life, in addition to having a healthy relationship with money.

More and more, people are talking about “healthspan” as opposed to “lifespan” and the impact that healthcare expenses have on financial and estate planning.

So lets define exactly what that the two terms mean.

Health span is the average number of healthy years between birth and death, also known as quality of life or health-adjusted life expectancy.

Life span is the average expected number of years between birth and death or life expectancy (LE).

In this episode of the prosperous and happy Life podcast I chat with a key member of our team: our insurance expert Annie Bélanger.

Annie has over 30 years of experience working with insurance companies and large financial institutions providing clients with innovative, tax efficient insurance.

She has a Bachelor’s degree in Administration from the University of Ottawa, and a Master’s degree in Taxation from Université de Sherbrooke. Annie and I work closely together studying the unique needs of each client to identify the best insurance strategies for their specific situation.

  • What will affect people's budgets in their retirement years. [02:24]
  • At what stage during retirement will healthcare expenses become an issue. [03:35]
  • The differences in health between men and women. [05:14]
  • Health expenses as people age. [09:08]
  • The financial tools that are available to help people plan for these expenses, such as long-term care insurance. [12:40]
  • A comparison between life insurance and long-term care insurance and how they impact estate value. [16:36]

Thank you for listening

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About the Podcast

The Prosperous and Happy Life
Money doesn’t guarantee happiness, but it sure can help. In this podcast, I bring you expert advice on how to achieve not only wealth …. But happiness too!
I shares tips and experiences from my quest to help my clients be prosperous and happy. Over more than 30 years I have worked with thousands of clients and countless experts, all looking to live a rich and fulfilling life. In my podcast interviews I share my stories and wisdom, along with advice from the many experts I have encountered along the way.

About your host

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Mary Hagerman

Mary Hagerman is an award winning portfolio manager and investment advisor with the Montreal office of Raymond James Ltd. Considered a female pioneer in building ETF-based discretionary portfolios for her clients, Mary is an expert columnist on ETFs for industry publications in French and English, and she is regularly quoted in the media. Mary combines her personal passion for karate with her professional experience in her book, The Black Belt Investor.

This podcast has been prepared by and expressed the opinions of Mary Hagerman, and are not necessarily the opinions of Raymond James Ltd. (RJL). Statistics, data and other information presented are from sources RJL believes to be reliable, but their accuracy cannot be guaranteed. This podcast is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Investors considering any investment should consult with their Investment Advisor to ensure that it is suitable for the investor’s circumstances and risk tolerance before making any investment decision. Past performance is no guarantee of future results. Information provided in this podcast is general in nature and should not be construed as providing legal, accounting and/or tax advice. Should viewers have any specific questions and/or issues in these areas, please consult your legal, tax and/or accounting advisor. RJL is a Member of the Canadian Investor Protection Fund.