FYI: Financial advisors and scuba diving instructors share similar responsibilities. They each guide clients into ever-changing waters. Scuba divers need to trust that their tanks are full. When retiring, clients need to know that they won’t run out of money.
A fee-based Certified Financial Planner (CFP) recently created a comprehensive financial plan for one of his clients. The client, whom I’ll call Jim, sent me the plan and asked for my opinion. The report included an assessment of Jim’s risk tolerance. It said Jim should have a low-cost, diversified portfolio. It also showed how much he should save each year to fund his retirement.
Regards,
Ted
https://assetbuilder.com/knowledge-center/articles/when-the-4-rule-could-fail-investors
