Quote:
Originally Posted by yads
Again, Slava, the reality is that even the top third of retired people do not spend as much money as you're making it seem:
http://www.theglobeandmail.com/globe...rticle1726568/
And that's early in retirement for most people.
People are quick to jump on Relator 1 when he makes ridiculous assertions about mortgages or the housing market, but no one seems to question when financial planners tell us we need more than our current income in order to retire and live well. And I know you're not doing it maliciously, but there is an inherent conflict of interest as a financial planner to tell people they need a certain amount to retire comfortably. Since your compensation is typically tied to how big your book is. (If you're a fee only financial planner I apologize in advance). |
See thats the problem with the financial services industry though. People want to hear how much it will take for them to retire, but when they don't like the answer they say its a sales pitch. When you actually work through the figures in an honest fashion though the reality is that people are not saving enough money; that has little to do with personal bias. People underestimate the amount they'll need for retirement whether they invest with me or put the money in a coffee can in their freezer.