Discussing Longevity: Health and Wealth in Retirement

Video Chapters & Transcript:

All right, folks. You know, we’re gonna This is This is kind of a tangental podcast. It’s not really about money, but you know, it kind of is, and I’ll I’ll tail into that at the end. Um, but I I expect this to be a vast interest to most of our viewership. Um, and you’ve probably seen I’ve been try, you know, I am um uh um you know, a student of longevity technology. You know, as Ricky Bobby said in Talladega Nights, I figured with my my you know, with my high level of income, modern technology, ought to be able to get to about 140. And actually, that’s a target um age for me. So, I spent a lot of time with health care professionals and and studying uh technology and medications. I mean, I’m healthy, but you know, this is really just to keep me going. um keep me young and long live. So you probably now you’re starting to see a deluge of commercials for WGABY and ompic and a lot of these uh tzepidebased medications uh that really are transformative and I think I I’ve got you know one of my docs is at Mayo uh and I asked to get on this she goes you’re the first one the whole mayo system we didn’t know you know what uh what this was um there was by buying Lily direct so ampic is you know this is this is a drug that’s been around in various forms since the 1980s. Um, and was the application was for diabetes. It also has been shown in recent years to have remarkable weight control properties. I’ve been taking it for a couple years and I say it kind of just normalizes my appetite, you know, to where, you know, a lot of folks and eat whatever they want and they don’t gain weight. Um, I mean, they don’t eat huge quantities of it, but, you know, it it really has normalized my appetite and then and and and my wife and partner Kim has been using it for a while, too. Um but that’s really just the beginning of the story. This is not about weight control. This is about longevity. And actually this article which I think was in Barren um was uh begins with should opped to the water supply. Hm. Interesting. Why would they say that? You know because this GP1 category of drugs and there was a recent announcement Lily new drug that I’ll talk about at the end just in the Wall Street Journal this week are showing promise for an everexpanding list of diseases. um beyond weight loss and and diabetes, heart uh kidney and liver diseases, sleep apnnea, arthritis, Alzheimer’s disease, alcohol addiction, even aging, which is my big interest. Um and the trajectory continues. Doctors say millions of people would benefit from them, maybe even a third to a majority of adults. It’s really big time. This Merro is one I didn’t mention along with Zep Zep and and and WGabby and and Zebound. Um, one of the things that I really noticed, you know, which is important, heart disease, as as we learned on a podcast or we discussed on a podcast a couple of weeks ago with Dr. Steel, you know, is a leaning killer around the world, you know, cholesterol and accretion of plaque in the arteries and high blood pressure and then you blow up that system. I mean, there’s nothing left, right? And a lot of the the uh the uh uh the morbidity, you know, the the negative health effects of heart disease comes from inflammation, you know, which is just, you know, reening and and swelling and and stuff of the tissues. And these drugs have remarkable anti-inflammatory properties. And these guys super caps probably aren’t going to talk a whole lot about this and you have some questions, but this is not something that’s on their typical study list. Um but it’s really just amazing what these things seem to be able to do and uh and this promoting um not only you know fitness you know but feeling good uh greater health and and greater lifespan also you know recently been found to um uh be valuable in treating certain liver diseases and particularly fatty liver and uh according to the baronss 140 million American adults, more than half of the adult population are eligible for treatment with these drugs. um uh and but only a fraction of those and and on been paid for by insurance you know and that’s something that’s really I think starting to ease up other conditions like uh um like heart health and others um then and you know and and significant obesity you know will be covered but I think that you know as the drugs become more popular the costs come down and the u um the the the the efficacy of the treatment for so many conditions increases that I more and more you’re going to find insurance companies caving and paying for this and at the end of the day it’s really probably in their best interest because you keep people healthier with you know then you know you have you don’t have huge bills at the end so for the for the financial part that I promise you at the end you know to get reclaim the interest of the CFPs this is a doctor part and I’m here comes here comes the CFP part I’m not that kind of doctor Lou but I’d be happy to examine you because you’re my friend actually I should have said that to you the uh um um you got to look at, you know, as as lifespans lengthen, as metal medical technology, you know, those that avail themselves of it increases and people live longer, what does that do to your need for prudent wealth management? Getting good returns, avoiding big losses, conserving value, uh you know, mapping out retirement to see actually what’s coming. Uh and a lot of people don’t do this. Lou and Annie, you know this better than me because you’re, you know, in the trenches. But, you know, to properly p plan retirement, you know, the way we do it is you got to look at you is what’s your likely life expectancy? Maybe now we need to extend it. You know, how much cash do you have? What do you need to, you know, to pay your bills and to do the things that you want? What are taxes for inflation? What, you know, reasonable rates of return? And every year you’ve got to recalibrate that to look at, you know, what’s coming ahead, you know. So when you do, you know, tell me how important input is Lou and Anna when you do, you know, a robust retirement projection plan um on lifespan and what what how important is that if people live longer? It’s important then, you know, if you live longer, obviously you need more money to support that, you know, that that longevity. So um it’s it’s definitely something that we do in our planning and and uh you know run simulation in terms of you know asking you know asking questions see what and you never know you never know kind of what what’s underneath uh someone’s hood so to speak right but um you know but you ask what’s what’s longevity in the family how long you know did your parents live grandparents how long you know what what’s your health situation to kind of map that as closely as as possible but you know you’ll never get it exactly right but but it’s definitely important to to answer your first question AW W. Yeah. Um, I mean, multiple things come to mind, right? You have, you know, women that live longer, right? That’s a big part of my conversations with clients. Typically, women are living longer. Um, so if you know the the wife is a younger spouse, then we have to plan for that, especially if she’s going to be living into her 90s or or hundreds. Um, we’re also seeing, you know, increases in dementia, Alzheimer’s, different types of conditions as people live longer that will require more money later in life. So, these are all things that, you know, we have to plan for. Um, and it’s not just as easy as pinpointing an age, right? We have to talk about a lot of whatifs. Yeah. So, retirement planning done properly. And I tell you, the longer you live, you’re stretching that money out a longer period of time. You know, if you’re going to you’re going to die in two years, no, you’re you can live high on a hog. But if you’re going to live 30 years, you better be careful about what you spend and you know, how your money is invested and how um and how risk is controlled, you know, to reduce the the risk of running out of money and you know, inflation and all the other It’s really it’s wicked complicated to do it right. Most people don’t. And that’s really the financial point. No, but please check out this drug is just I think it’s a wonder drug and we’re really really just getting started. It was a press release on the Wall Street Journal article this week. They’re now showing a credible propensity to treat arthritis and a lot of arthritic pain, which obviously is, you know, a lot of folks when you get up there have this problem. And I I just really think that medical technology once, you know, you know, stem cell cloning technology is figured out and you can actually build replacement organs that are that are your DNA. Um, it’s, you know, it really gets pretty exciting. Anyway, I probably gushed on far too long as I often do. Uh, any final comments? Lou Orana. No, I think you summed it up pretty good. Good. Well, thank you for your patience with this mostly non-financial discussion. Until next time, folks. Thank you so much for watching. We are your Wealth Doctor team. Uh Jeff Lu. Byebye.