A prospect met with me last week with multiple goals, objectives and desires for his retirement, which, by the way, is to begin in eight months. After I dissected each one it became clear that there was no way he could achieve them all, or even half of them for that matter. I ran my retirement analysis, employing the Monte Carlo method for a balanced portfolio, which confirmed my initial belief.
The surprising thing was that he has employed two different "financial planners" and this was the first time he had heard that his retirement objectives weren't realistic. Amazing! His first reaction was that no one had ever dived deeply into his objectives. Then he said something that caught my attention. “The other planners have become good friends of mine; I'm surprised they didn't tell me.”
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