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.