Articles in "MIT AgeLab" category:

Ten Years Later: How the Financial Crisis is Still Impacting Investors

  John Diehl     Tue Nov 28 09:30:00 EST 2017 

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Ten years ago, the U.S. housing market collapsed, which triggered the start of what is known as the Great Recession. Now that a decade has passed, Hartford Funds conducted a survey to find out how Americans were impacted and whether they changed their financial behaviors as a result. Three key points emerged from this survey that financial advisors may find to be particularly useful.

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:

When Should I Retire?

  Michael Lynch     Tue Mar 21 09:15:00 EDT 2017 

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Retirement is the great unknown, and much to everyone’s chagrin, there are no cut-and-dry answers to most of our biggest retirement questions: when should I retire, and how much money do I need? The answers are different for everyone, and they are much more nuanced than coming up with a set age and amount. But, clients still ask these questions, and financial advisors still need to find a way to respond. I’ve addressed the “magic number” question in the past, but for the “when?” question, I suggest using a three-tiered approach: fiscal, physical, and psychological.

Plan Creative Client Events in 2017

  Bill McManus     Tue Jan 24 14:45:00 EST 2017 

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Each year, financial advisors face the challenge of finding unique ways to engage with their clients. It can be tough to think up new ideas, but the good news is, you don’t have to reinvent the wheel. If you’re looking to hold creative client and prospecting events, let the calendar work for you. Each season, each month, we are presented with numerous opportunities around which to plan original, memorable events for clients and prospects.

Here are just a few examples of how calendar dates can help you leave a lasting impression:

 

When a Millennial Isn't a Millennial

  Bill McManus     Tue Jan 10 09:30:00 EST 2017 

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The ball has dropped, the calendar has flipped, and we’re now easing into 2017, which means that each demographic cohort (Boomer, Gen X, Millennial) will be reaching new milestones.  The oldest Boomers will be turning 71; Gen X will move one year closer to retirement; and the youngest Millennials will all be driving. But those milestones, and frankly, those labels, don’t account for everyone, so while they serve as helpful guidelines, they shouldn’t be used as rules.

As we start a new year, maybe it’s time to take a fresh approach to how we view a certain group, both as potential clients and partners.