People who haven't prepared financially for retirement are going to have to make some hard choices about their spending in order to make up some of the lost ground so that they don't have to work until they die, says Balunek. "Other than Social Security, there is no safety net for people who have not saved enough for retirement. 'The Secret' is not a safety net. It's about dreaming, and ignores the work required for accomplishing."
"So many people are looking for an easy way to achieve their goals-better health, more money, etc.," says Tom Adams, CPA, with Mentor Capital Management Inc. in Elmhurst, Ill. "Perhaps they've done a very poor job saving, and now they're 45 years old with very little put away. They're probably more likely to look for the easy way out-playing the lottery or falling for The Secret. I am sure that many of the overweight and unhealthy folks in our country are avoiding the hard work of dieting and exercise, hoping instead that some magical cure will come along that allows them to take a pill and achieve wonderful health. All in all, while it's probably good to have a positive attitude, people are better off thinking realistically."
Of course, many clients who might not put their belief in The Secret instead take a similar approach with organized religion. Says Rich Feight of Creative Financial Design in Lansing, Mich., "I had a client who was very Christian. She gave half of her meager savings to the church believing that 'God will give it back to me tenfold.' She had recently heard tips about sectors such as energy and ethanol and thought 'God is telling me to invest here.' Not being one to argue with God, I just did as she requested, making sure she realized this was her choice and that she was responsible for her actions. I eventually had to let her go because she didn't take advice, her assets suffered for it, and I didn't see a future of mutual prosperity."
Whether it's The Secret or thought systems more familiar to us, we must guard against clients getting the wrong message. The Secret is perhaps just a more virulent example of this truth.
Says Lori Embrey of Summit Financial Strategies Inc. in Columbus, Ohio, "This is 'the secret' that has been passed down to me by generations of very successful people: Decide what it is that you want in life, set goals for yourself, make a plan to achieve your goals and work to get there." Yet, covering her bases, Embrey adds, "If The Secret really does hold true, this is what I plan to order from the 'catalogue of the universe': I am a tall, thin, well-endowed blonde woman who is smart as hell and always gets her way!"
An independent financial advisor since 1981, David J. Drucker, MBA, CFP, has been an industry influential for many years. Learn about his books, public appearances, Practice Lifecycle, Virtual Office News and the annual Technology Tools for Today Conference at www. DavidDrucker.com.