Talk with your clients about viewing retirement from a different point of view. (Photo: Shutterstock)
Heard of the book "Who Moved My Cheese?" Probably. The title might reflect the anxiety clients have about retirement. Some might think they will need to work until they are carried out of the office feet first. Can you have a retirement planning conversation that reduces their level of anxiety? You probably can.
|Long ago, In a galaxy far away…
Some people still remember defined benefit pension plans. Companies have gotten away from them, but the concept was you stayed with one employer a long time, became vested in the pension plan, retired and received monthly checks until they carried you off the golf course, feet first. We forget people didn't have that much money saved up back then. Taxes on earnings might have been higher too, making saving difficult.
|And now for something completely different
Today companies downsize. People change employers far more often than their parents or grandparents did. Defined benefit plans have been replaced by defined contribution plans. Your retirement is in your hands now.
Most Americans are really unprepared for retirement. But assuming they realize the extent of the problem early, there are ways you can help.
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Bryce Sanders
Bryce Sanders, president of Perceptive Business Solutions Inc., has provided training for the financial services industry on high-net-worth client acquisition since 2001. He trains financial professionals on how to identify prospects within the wealthiest 2%-5% of their market, where to meet and socialize with them, how to talk with wealthy people and develop personal relationships, and how to transform wealthy friends into clients. Bryce spent 14 years with a major financial services firm as a successful financial advisor, two years as a district sales manager and four years as a home office manager. He developed personal relationships within the HNW community through his past involvement as a Trustee of the James A. Michener Art Museum, Board of Associates for the Bucks County Chapter of the Fox Chase Cancer Center, Board of Trustees for Stevens Institute of Technology and as a church lector. Bryce has been published in American City Business Journals, Barrons, InsuranceNewsNet, BenefitsPro, The Register, MDRT Round the Table, MDRT Blog, accountingweb.com, Advisorpedia and Horsesmouth.com. In Canada, his articles have appeared in Wealth Professional. He is the author of the book “Captivating the Wealthy Investor.”
