If your chronological age measures your age in years, your biological age examines how old you are as suggested by a few different physiological signals. Telomeres—compound structures found at the end of chromosomes—are often used to determine bio age, as well as process called DNA methylation. In fact, there is a growing industry that is centered around determining biological age.

In financial planning, considering your potential longevity is crucial for developing appropriate strategies and identifying possible solutions for your goals. One fear (and some would say very-present risk) people have is outliving their money in retirement. At the same time, it can be possible to preserve too much of your assets, denying you or limiting the retirement lifestyle you desire. So, the question of how long to plan for is an important one, and an area where having a knowledgeable financial professional experienced in these areas can be helpful.

With the introduction of biological age, we now have another factor we can use to build your financial plan. Is it possible that your biological age is younger than your chronological age? Then we may be looking at strategies that extend your income. Some solutions offer guaranteed regular income that cannot be outlived. Conversely, if your biological age is older than your chronological age, what solutions might we explore to ensure the best quality of life in retirement?

Remember that the concept of biological age is only one factor among many that should be considered in financial planning. That means you don’t need to rush out to the research firms offering biological age testing; in fact, in some states, you may be required to disclose those results on insurance applications, which could impact the kinds of rates and features you are eligible for. Instead, reach out to your financial advisor to start a dialogue on your biological age and its potential effect on your retirement goals.