Many retirees will live 20 to 25 years beyond age 65, so financial advisers need to focus on helping clients understand the need for adequate savings and other essential aspects of retirement planning, writes Lloyd Lofton of American Eagle Financial Services. Advisers also should address quality-of-life issues such as security and independence, as well as the distribution and preservation of assets; options for health care; and the role of life insurance, annuities and Medicare in meeting clients' needs, he writes.

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