Articles by "Stephen Parnell":

8,000 Days

  Stephen Parnell     Mon May 15 15:30:00 EDT 2017 

Retirement is often talked about as an end—it’s the end of one’s career, it’s the last stage of one’s life, it’s the end game. Clients might be focused on how to prepare for retirement, which is critically important, but if they’re looking at retirement as the final goal, then they might not be preparing in the best way.

I recently sat down with Dr. Joseph F. Coughlin, PhD, Director of the MIT AgeLab, to discuss the dichotomy of retirement—it is seen as an end, but it can actually make up more than a decade or two of one’s life—and he gave me his perspective on how to help clients navigate what he refers to as the 8,000 days of retirement. I asked Dr. Coughlin to share his 8,000 days analogy for the purposes of this blog, and the following is his contributed content:

Knowledge Is Power

  Stephen Parnell     Wed Apr 19 09:30:00 EDT 2017 

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Last month, Investopedia released a study that found a correlation between an investor’s financial knowledge and confidence in his/her retirement savings. Among the survey respondents who said they felt behind in their retirement savings, 58 percent self-identified as novice investors1. By contrast, only five percent of those who felt behind their goals self-identified as expert investors2.

Women and Changing Dynamics

  Stephen Parnell     Wed Dec 07 14:00:00 EST 2016 

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The antiquated standard when it comes to gender roles is that men are the breadwinners, while women are the caretakers. Men are the earners, and women are the spenders. But that paradigm has evolved, and is continuing to evolve, in a manner that has financial ramifications. It is no longer the norm for women to rely on their husbands for monetary support or for men to control the family’s financial decisions. Before you make any archetypal, clichéd quips to clients about a wife’s shopping habits or a husband bringing home the bacon, take a moment to consider how the gender dynamics have changed and what that means from a financial planning standpoint.