Articles in "Engaging Clients" category:

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.

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.

Invest for What: Bringing Retirement out of the Abstract

  Michael Lynch     Tue Jun 05 11:00:00 EDT 2018 

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Retirement may seem like a far-off, intangible concept for many people, and yet, from an early age, we regularly allocate a sizeable portion of our income to fund it.  Saving for retirement is expected, but it can be hard to plan for a future that is almost completely unknown—it is almost like paying a mortgage on a house you’ve never seen.

When I think back to when my wife and I bought our home, we had a laundry list of specifications: location, taxes, number of bedrooms/bathrooms, size of the kitchen, single-family home or a townhome, etc. When we found houses that met enough of our criteria, we visited each one and weighed the pros and cons until we purchased the one we loved.

I can’t say I would agree to pay for a home that I’ve never seen, and yet telling clients to save for retirement is essentially asking them to put money aside for something they’ve never experienced. Retirement can be ambiguous and unpredictable, but it is also—like buying a house—one of the most substantial investments we make in our lifetime. Shouldn’t we also have a list of criteria for how we want to live in retirement?

The Future of Advice

  Bill McManus     Tue May 01 11:00:00 EDT 2018 

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The retirement landscape is evolving, and many investors may not be as prepared as they think they are for this stage of their life. People are living longer, each generation is becoming more educated, family dynamics are changing, and technology is infiltrating every part of our lives. For a financial advisor, these trends may mean that your clients’ needs and their expectations of your role are expanding.

We recently hosted Dr. Joe Coughlin of the MIT AgeLab to discuss how advisors can transition into what the MIT Age Lab has coined a “longevity-based advisor.” A longevity-based advisor guides clients with education, resources, and solutions to the challenges that longer lifespans and this new retirement can present.

Educating Your Kids Beyond Their Lemonade Stand

  Michael Lynch     Wed Apr 18 15:00:00 EDT 2018 

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When we were children, our parents always seemed to be yelling about the most mundane things.

Eat your vegetables!
Make your bed!
Finish your homework!

Though we couldn’t understand at the time why they were determined to control our lives (or ruin them), as we’ve grown up we’ve realized the importance of these small habits. Our parents were just trying to make sure we were healthy and equipped to handle adulthood. But there was a major piece missing. Conversations about finances.