By: Susan Yellin | The Insurance Investment Journal | Jan 27, 2017
Read More, and see what Scott Plaskett says about Strategies to help your aging clients plan and hit their retirement income targets
“We don’t ask the question that most people ask, which is: if I want $60,000 cash flow a year, can I have it? I don’t think that’s the right question. The right answer is to let me tell you what you are on track for and then you are going to have an opinion on that,” says Scott Plaskett, senior financial planner and CEO at Toronto-based IRONSHIELD Financial Planning.
For example, when it comes to cash flow, clients have an idea of what they could have, not necessarily what they want, says Plaskett. He may start with establishing that $60,000 a year would be the ideal cash flow – but then the clients may indicate they were hoping more for $100,000 a year. Or, some clients slough off the $60,000 a year saying they would prefer $40,000. In each case, the conversation will be different.
