Another corrupt part of the retirement process is the impact of natural aging. Retirement isn’t fair, which means things that clients may have taken for granted may stop working or retire at the same time they do. These include the ability to see, hear, smell, taste and touch, which can be stolen in as little as a single retirement year, dramatically altering the retirement experience. It can change the way a client measures success or comfort in retirement, and take years to learn how to manage. However, an advisor who inserts these real-life aspects of retirement into conversations, newsletter, or blogs can raise awareness and, by doing so, help keep clients focused on what they have instead of what’s been lost or taken.
Overall, one of the challenges the financial services industry faces is this lopsided approach to retirement planning; one that focuses primarily on the things it can give clients instead of addressing the whole picture, which needs to include the things it can also take away.
By sharing both retirement’s good side as well as its rap sheet, clients will be more aware and feel better prepared to recognize dangerous circumstances and predicaments. Simple security features can be added, including personal and social insurance and a broader use of diversification to manage their time, identity, and pursuits.
Ironically, it’s a concept that just might be worth stealing and using with clients.
Robert Laura is President of SYNERGOS Financial Group, founder of RetirementProject.org, creator of the Retirement Wellness Report and DividendPaycheck.org, He can be reached at [email protected].