Retirement Advisor: How FAs Can Fix The Retirement Crisis (Podcast)

by: SA For FAs
Summary

The abject failure of the majority of Americans to plan adequately for their retirement is often portrayed as either a moral failing, a weak character or lack of intelligence.

But the real problem is rooted in human nature, which addles us to fixate on our current desires at the expense of our future needs.

Reasoned arguments are no match for these impulses; to defeat this very human tendency, we need to fight fire with fire, something that financial advisors are uniquely capable of doing.

I propose a sort of “boot camp” that puts retirement finance into the same present-oriented arena where people currently succumb to their desires for a large house or prestigious neighborhood.

Listen on the go! Subscribe to the SA for FAs podcast on iTunes, Stitcher and SoundCloud (click the highlighted links).

The retirement crisis, at its core, is an all-too-human succumbing to our desire for satisfaction in the present at the expense of our futures.

This podcast (5:21) proposes a simple exercise that financial advisors - a profession whose value is frequently publicly questioned - have the unique ability to conduct, thereby providing tremendous value for their clients.