The New Normal for Financial Planning

The Principle:

The last few months have taught us all to adapt and learn new ways to accomplish our daily tasks that has often been referred to as the “new normal”.  This new normal affects all of our lives, including financial planning. What will the future look like and will virtual planning become more permanent?

(Want to jump ahead in the episode? Click the featured times below to skip to a specific section.)

Honest Takes:

Each of us have made countless changes and adjustments to our daily lives since the coronavirus health crisis struck our country. It’s taken some time but we are all slowly becoming more accustomed to this new normal, however that looks for you individually.

That’s the case for our offices as well. We’ve moved meetings and conversations with clients to a virtual setting and everyone is adapting well. Will this trend continue on even when all of us return to our previous normal?

That’s what we’re talking about on this episode of the Retire With Integrity podcast. We look at how things have changed over the last six weeks or so both with work and in our personal lives. Brian also shares a story about how the financial crisis that came out of this pandemic has helped investors understand that their risk tolerance isn’t aligned with their allocation.

What We Are Doing:

As we continue to take precautions and do our part to limit the spread of the virus, our team will be available to you if there are financial concerns or questions you have during this time. Feel free to reach out to us to schedule a time and continue listening to the podcast as we discuss these topics. We are proud to offer virtual screen share or phone appointments to accommodate your questions and needs.

Let’s get this show started on that note. Listen to the full episode or click on the timestamps below to hear a specific segment.

[0:16] – If you could turn back time and go back to January, what advice would you give yourself?

[0:41] – A client came in that said he was more conservative than he was and the market showed him that.

[2:50] – We alerted him to the possibility of a 20-30% drop with his current allocation. 

[3:43] – Is the new normal going to include virtual retirement planning as a permanent option?

[5:44] – People are learning to adjust that normally might not be willing to change.

[7:18] – You can download an app for retirement planning now.