Finance

In retirement planning, what is your retirement personality?

When I present a plan to a new retirement planning client, sometimes they resonate, and sometimes I get a blank stare in response. I can tell immediately if the pension plan is not suitable for the client. But why do strategies that resonate with some clients fail with others?

It’s not because these latter plans don’t work, it’s because they don’t match the client’s personality in retirement. If the client’s mindset about money doesn’t match the plan, it’s unlikely to resonate with them. The research of dr. Alejandro Murgu (opens in new tab)Ia and Wade Pfau showed that there are four main ways that people approaching or in retirement think about money.

1. Time segmentation approach



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