Understanding your Financial Professional

2009 marks the 40th anniversary of the financial planning profession. It was back in 1969 when pioneers such as Loren Dunton voiced their desire to differentiate between financial salesmen and genuine financial planners. While many important steps have been taken recently to more clearly define the roles of various financial professionals, there’s still an overwhelming sense of confusion among consumers about who is legit and who isn’t within the financial planning profession.

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Don’t Run out of Money during Retirement. It’s a Nightmare.

“45% of retirees aged 55-75 have either not calculated how long their assets are anticipated to last during their retirement years or they have never given the issue any thought at all” (Financial Advisor Magazine: June, 2009). This to me is a startling statistic. Almost half of the surveyed population doesn’t plan for the years when they are no longer working? Is retiring one day really not on people’s minds? Maybe it’s not given how poorly the stock market has performed over the past decade. Even so, the time to think about retirement is well before it starts, not once you’ve already decided to permanently quit the workforce.

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