Advisors have fielded concerns from clients who don’t believe they can achieve their retirement dreams:  buying a new boat, taking an annual trip abroad, or making a gift to their alma mater. Longevity risk, compounded by concerns of inflation, can make some clients jumpy and drive them to make changes that may not be necessary or practical.

As Associate Editor Andrew Welsch puts it in this month’s cover story, “Chief among client concerns about retirement is a widely shared fear that they may last to age 90 or even 100, but their money won’t.”

“Plan, don’t panic!” exclaims Advisor Michael McCormick of Raymond James, evoking memories of the rallying cry from Douglas Adams’ Hitchhiker’s Guide to the Galaxy. But McCormick, a retirement specialist, wasn’t borrowing from the satirical science fiction novel. He explained that making sure that clients feel they are on track to meet their goals, both when formulating a plan and when that plan is in place, is essential to his approach.

The big reminder he gives clients: Don’t forget, there’s a reason it’s a 30-year plan. There are cycles in the market place, and this century’s roller coaster ride is by far no exception. So, McCormick makes it a point to regularly meet with clients, review the plan, and show how it’s designed to ride out the storm.

McCormick’s long-time clients, Ed and Barbara Swanson, who were interviewed for the cover story, said they were reassured by McCormick’s work. Despite the ups and downs of the market, and the possibility of living longer, the suburban Chicago couple said they believe that they are on track to achieve their retirement goals.