Certified Senior Advisor (CSA) Practice Test

The concern of living longer than expected is particularly relevant for older clients in the context of retirement planning. With advances in healthcare and improvements in overall quality of life, individuals are experiencing longer lifespans. This potential longevity increases the risk of outliving their savings, leading to financial insecurity in later years. As such, planning for an extended retirement period becomes essential, ensuring that they have sufficient resources to cover both anticipated and unforeseen expenses.

The implications of this concern highlight the importance of creating a robust financial plan that encompasses various aspects, such as budgeting for healthcare costs, potential long-term care needs, and the sustainability of income sources over an extended lifespan. Therefore, clients need to strategically manage their investments and savings to maintain their financial stability throughout their retirement years.

In contrast, the other options do not represent significant concerns for older clients. Having too much retirement income may actually be viewed as a beneficial position, while accessing federal retirement benefits is usually not a challenge for those who qualify. Lastly, the notion of not needing any retirement planning is unrealistic, given the unpredictability of expenses and life events that can arise in later years.