Financial Plan | Get The Process Right First

The problem is that the financial advice industry is built to inform you about a product, a tangible thing that you buy or sell.

I Have A Couple Of Questions

  • What happens when the product isn’t explained correctly, or completely, and actually works differently than your understanding?

  • Even if you understood the single product, what happens when one product cancels out the other?

The issue is that consumers are being informed, one item at a time, by a separate person at a time. Now look at the questions, and welcome to my uncomfortable existence. I feel terrible for a well-meaning public, who has common sense, but when told that the earth is flat for 40-50 years, well, it is difficult to break from this.

That’s my nice version. I will have slightly less polished comments (you can take a guess) at what I learned from the Alliance For Lifetime Income Summit in Washington: I haven’t had time to press record.