Comments on: Financial advisers consistently ask the wrong questions http://blogs.reuters.com/reuters-wealth/2011/09/06/financial-advisers-consistently-ask-the-wrong-questions/ Fri, 05 Dec 2014 11:27:18 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: AspiringCFP http://blogs.reuters.com/reuters-wealth/2011/09/06/financial-advisers-consistently-ask-the-wrong-questions/comment-page-1/#comment-8800 Sat, 12 Nov 2011 20:57:56 +0000 http://blogs.reuters.com/reuters-money/?p=19286#comment-8800 There’s a bigger issue being highlighted here: the term ‘financial planner’ is being used by people who aren’t. Now the actual financial planners have been forced to coin a new term just to differentiate themselves from the salesmen holding themselves out to be planners.

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By: wpfau http://blogs.reuters.com/reuters-wealth/2011/09/06/financial-advisers-consistently-ask-the-wrong-questions/comment-page-1/#comment-8157 Sat, 24 Sep 2011 01:32:11 +0000 http://blogs.reuters.com/reuters-money/?p=19286#comment-8157 The trouble with Prof. Ariely’s advice is that he forgot he is an economist. Life is about tradeoffs, or as economists say, maximize your utility GIVEN YOUR BUDGET CONSTRAINT. You can’t ignore just how much you must save and for how long in order to be able to use a 135% replacement rate in retirement. A good financial planner can help balance the tradeoffs, and Prof. Ariely’s research finding is only saying that people have unrealistic expectations about their retirements.

Please see my article in the upcoming October 2011 Journal of Financial Planning about whether one is on track to a sustainable retirement… hint… it is going to be a lot harder if the goal is a 135% replacement rate.

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By: scarr34 http://blogs.reuters.com/reuters-wealth/2011/09/06/financial-advisers-consistently-ask-the-wrong-questions/comment-page-1/#comment-7876 Wed, 07 Sep 2011 15:58:44 +0000 http://blogs.reuters.com/reuters-money/?p=19286#comment-7876 If you are so clueless that you think you need a financial advisor, you shouldn’t be investing in the first place. Just concentrate on saving and keep your money in a bank.

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