In the end, we need to consider they ways in which we work with and discuss retirement planning with clients. Advisors don’t have to jump in full force and start quoting scientific research and journals, but rather discussing the realities of retirement—what I call vaccinating clients or introducing some of the negative things that can happen, in small doses, so they can start to build up defenses against them.
After all, a successful retirement isn’t one without problems, but rather one in which you learn to overcome them. And understanding the behavioral economics of everyday life in retirement can help do that for you and your clients.
Robert Laura is the president of Wealth & Wellness Group, the founder of RetirementProject.org and a pioneer in Certified Retirement Coach training. He can be reached at [email protected].