How do you plan for retirement when your health is uncertain?

You may have a clear idea of when you want to retire, where you want to live, and how you want to support your family. But a change in health can force you to reconsider several of those assumptions at once.

Karen Englert describes that experience simply: “I had one day where I was completely healthy and raising a two-year-old and working full time, and then all of a sudden I had heart disease.”

You’ll learn:

• How health uncertainty can affect career and retirement assumptions
• Why flexibility matters when you can’t predict longevity
• Which decisions may still remain within your control

You don’t need to predict every possible outcome to think carefully about the future. You can begin by identifying which assumptions depend on your health and which decisions can preserve options if circumstances change.

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Why health planning affects more than medical decisions

Health planning can reach into almost every part of your life.

Karen was diagnosed with multiple forms of heart disease in her 20s. Over the years, she underwent seven heart surgeries, including two open-heart procedures, and became completely reliant on a pacemaker.

The implications weren’t confined to doctor visits.

She had planned to pursue a PhD; that plan changed. When she and her husband built a home, she considered easy access for first responders.. She began thinking about whether she would be able to work for as long as she expected. She created a will at age 26.

Those examples show some of the ways a health change reaches several planning areas simultaneously.

Planning AreaQuestion Health Uncertainty Can RaiseKaren’s ExperienceCareerHow long will I be able or willing to work?Her original education and career plans changedHousingWill my home still fit my needs later?Accessibility and emergency access influenced home planningFinancesWho am I saving for, and how long am I planning for?Her expectations about reaching retirement age affected her thinkingFamilyWhat should my family have if something happens to me?She prepared a will and wrote letters to familySupportWhere do I need outside guidance?She became intentional about asking trusted advisors for help

You may never face Karen’s exact circumstances, but you should still ask whether your current plan depends too heavily on one version of the future.

Longevity planning requires more than guessing an age

Longevity planning can become abstract when it’s reduced to a number in financial software.

Danton Troyer explains that planning may be based on life expectancies such as 92 or 94, even though those figures can’t predict exactly how long someone will live. He describes a client asking to reduce the planning age to 80, then points out the problem with selecting an age primarily because it makes the financial projection work nicely.

Karen’s experience came from another direction. For years, she didn’t think she would reach retirement age. She viewed some of her saving as money that would ultimately benefit her husband and children rather than money she would use herself.

Both situations point toward the same planning tension. Your lifespan is unknown, but financial decisions still have to be made today.

Retirement planning can therefore benefit from considering multiple possibilities rather than building a plan around one chosen timeline.

Financial flexibility when your assumptions change

Financial flexibility becomes particularly relevant when your health, career, or family circumstances change.

Karen describes her approach as being proactive rather than reactive. She also uses an image from recovery that helps her distinguish what she can influence from what she can’t: the things “inside my hula hoop.”

That distinction can be useful when you’re facing uncertainty.

You usually can’t control a diagnosis. However, you may still have decisions to make involving your spending, saving, estate documents, housing, work, and the professionals you ask for guidance.

This approach doesn’t eliminate uncertainty, but this gives you a clearer place to direct your attention.

How health can change the meaning of career planning

Karen’s health experience also influenced the direction of her work.

She began advocating for women with heart disease and became involved with the American Heart Association. She spoke with lawmakers about National Institutes of Health funding and policies affecting people experiencing illness.

That advocacy eventually became her profession. She joined the American Heart Association as a Director of Government Relations and worked on public policy, including Missouri’s statewide 911 process.

She later recognized that being professionally immersed in issues so close to her own health carried an emotional cost.

That led to another career adjustment.

Career planning is sometimes treated as a progression toward a fixed destination. Karen’s experience shows how your priorities, capacity, and relationship with your work may evolve as life changes.

Aging in place can begin earlier than you may think

Aging in place isn’t necessarily a decision reserved for your 70s or 80s.

Karen and her husband recently designed a home with multiple living spaces for multiple generations. This design can accommodate aging alongside people they care about, including both sets of parents.

That decision reflects a broader way of thinking about housing.

Instead of asking only where you want to live now, you may want to consider how a home might accommodate changing mobility, family arrangements, caregiving, and multiple generations.

You can’t know exactly which of those circumstances will occur; the planning value comes from recognizing that your needs will likely change in the future.

Asking for help can preserve your attention

There’s another kind of flexibility that doesn’t come from money.

It comes from recognizing what you don’t need to handle alone.

Karen describes herself as confident in her ability to do almost anything, while also acknowledging that she can’t do everything. She has become intentional about seeking trusted advisors who understand areas she doesn’t.

That allows her to focus her attention on the areas where she can contribute most.

A similar principle can apply to financial, medical, legal, and career decisions. The goal doesn’t have to be knowing everything yourself, but knowing which experts can answer the important questions and offer solid advice.

Self-advocacy when the answers aren’t clear

Self-advocacy becomes especially important when personal consequences are impacted by a health concern.

Karen’s advice is straightforward. If you don’t understand something your doctor is saying, ask questions. If you aren’t getting answers, find another doctor. She extends the same principle to financial planning and career decisions.

Seek professional guidance that allows you to remain an active, informed participant.

That may mean asking why an assumption appears in your financial plan, requesting another explanation of a medical recommendation, getting a second opinion, reviewing an estate document you haven’t revisited in years, or questioning whether an old career goal still fits your current priorities.

FAQ

How can you financially plan when you don’t know how long you’ll live?

You can’t know your lifespan in advance. Be cautious about choosing a planning age simply because it produces a more comfortable financial projection. Considering different longevity possibilities can help you understand how your plan will accommodate various outcomes.

How do health problems impact retirement planning?

Karen’s experience affected her expectations about whether she would reach retirement age, how long she might work, and who/what she believed she was saving for. Health can affect both the numbers in a plan and the priorities behind them.

What can you control when your health is uncertain?

Karen focuses on decisions she considers within her own “hula hoop.” Those may include asking questions to make informed choices, seeking appropriate help, saving, preparing legal documents, considering housing needs, and making intentional family decisions.

When should aging in place become part of planning?

That can begin well before old age! Karen and her husband incorporated multigenerational living into the design of their home based on accommodations for their own future and the needs of their parents.

Why does self-advocacy matter in financial planning?

Financial decisions can involve assumptions or recommendations you may not immediately understand. Karen’s broader principle is to ask questions when something isn’t clear, rather than remaining passive in decisions that affect your future.

Continue the conversation

Planning for uncertainty begins with understanding which assumptions in your current plan deserve another look.

You can’t predict exactly what your health, career, family, or longevity will look like. A thoughtful plan can provide a framework for considering various possibilities while keeping your priorities at the center.

If these questions are becoming more relevant to your own life, the Gast Freeman Troyer team at Moneta welcomes the opportunity to talk through what matters most to you.

Hear Karen Englert’s full story and the discussion about health, longevity, family, and planning for uncertainty.

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