Every day, we, as a society, are inundated with a constant stream of information, news, and opinions coming at us from all directions—it’s on our televisions, smartphones, computers, social media feeds, email, text messages, browsers, etc. The volume and velocity of messages that reach us can make it difficult for any one message to break through the clutter and catch our eye in this era of information overload. So how, then, can financial advisors capture clients’ attention and influence action?
A few weeks ago, I shared a few misconceptions about retirement that I commonly hear, along with some thoughts on how advisors could help keep their clients from falling into those traps. Today I’ve got another retirement myth to crack. How many times have you heard a client say some version of the following: “If my spouse dies, my expenses will be reduced by 50%”?