Articles by "Michael Lynch":

Welcome to Retirement: The Onboarding Guide Your Clients Need

  Michael Lynch     Thu Nov 29 10:15:00 EST 2018 

When a person starts a new role at a new company, companies will usually have an onboarding program that gives the new employee all of the resources and information they need to hit the ground running. This initial training usually includes an HR orientation, a shadowing program with a tenured employee, a benefits overview, and a review of other rules and expectations.  The idea is to ensure the new hire is set up for success.

When a person enters retirement, there is no guide, handbook, or orientation setting them up for success. We should help soon-to-be retirees prepare in the same way a company helps new employees. Financial advisors are in a unique position to offer this kind of help, because they have witnessed the pitfalls, challenges, and successes of myriad retirements. Here are a few ways you can help your clients prepare for their transition into retirement.

Taking Care of Caregivers

  Michael Lynch     Mon Nov 12 09:00:00 EST 2018 

For the 34 million Americans who provide care for someone age 50 or older1, the 7 day a week, 24 hour a day responsibility can be exhausting. They may be taking care of a spouse and/or one or more parents, sometimes while raising their own children. It’s a full-time job that they may be doing on top of their regular 9-to-5.

Being a caregiver is a physically, financially, and mentally challenging role. It can include being a chauffeur, a chef, a nurse, a housekeeper, and so much more.

November 13 is National Caregiver Appreciation Day, which is a good time for financial advisors to think about how to make their caregiver-clients’ lives easier. There are a few ways that financial advisors can help their clients who are already caregivers, or are primed to take the role in the future.

Are Ice Cream Cones in Your Clients’ Retirement Budgets?

  Michael Lynch     Thu Sep 20 10:00:00 EDT 2018 

There isn’t much that can compare to an ice cream cone on a hot summer day or early evening. Remember all those childhood summers spent at the beach or the boardwalk eating an ice cream cone, trying to finish it faster than it could melt and make a mess? Memories like these, of the little things in life that can bring a smile to your face, are the cherished moments we hope to have again and again.

Whether it’s going out for ice cream or engaging in another treasured pastime, I would like to be able to continue making those memories when I get older, and share those experiences with my spouse, friends, children, or grandkids. Many of your clients probably hope to be able to do the same, especially as they enter retirement and have more time on their hands.

Today's Lesson: How to Talk to Your Clients About Saving for Higher Education

  Michael Lynch     Thu Aug 30 10:15:00 EDT 2018 

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As the end of the summer rapidly approaches, many families are getting ready to send their kids back to school. For the younger ones, that preparation is as simple as new backpacks filled with school supplies and reinstating a bedtime. For the young adults heading off to college, however, it’s a bit more complicated and a bit more expensive.

Many parents, with children of all ages, may be anxious about how to tackle the financials of higher education. As an advisor, you have the opportunity to help ease these worries by discussing the costs of higher education, presenting them with options, and helping your clients create a plan, regardless of how old their kids are.

A Future Based on Purpose

  Michael Lynch     Thu Jul 12 10:00:00 EDT 2018 

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I recently wrote a blog post discussing how to help your clients have a successful and fulfilling retirement, especially when considering the unpredictability of the future. After it posted, one of the comments suggested including the importance of philanthropy and giving back for having a fulfilling retirement, and I couldn’t agree more.

One of the most rewarding things retirees can do that can fill the calendar and the heart is giving back. As I’ve traveled the country, some of the happiest people I meet are dedicated to giving back—they have found a deeper sense of purpose and their lives seem more complete. There are several different ways to give back that can help your clients find purpose during retirement, whether it’s with money, time, or knowledge.

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