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August 2009
Sales Idea: "Letter to Advisor"
Dear Mark:
I have wondered many times over the years how I could ever say thank you to you for all you have done for us as our Financial Advisor. Every time I see you, I want to bring it up, but we always seem to get busy doing other things. I finally decided to put my thoughts on paper. They seem more organized this way. I can take my time.
It's hard to believe that I retired and we moved to Arizona twelve years ago. So much has happened to this country and this economy since we retired, not all of it good, by any means. But, thanks to you, it's been a good twelve years. You prepared us well.
Now let me return the favor by telling you something that may help you as you counsel other clients. Let me tell you what it's like to withdraw assets after accumulating them for so many years. Feel free to share my thoughts with your other clients who are about to take that enormous step, if, in fact, you find my remarks appropriate. I know it's hard for you to prepare your clients for something that neither you nor they have ever experienced before.
One thought that never leaves me is how lucky we were to have had a few years of a good market after we retired. I have met some retirees who retired, dipped into their savings and got clobbered simultaneously. I'm not sure they'll ever recover. So you tell your pre-retirees to use a bit of finesse if possible. Obviously no one has a crystal ball, but a little common sense goes a long way. It's devastating to retire at the beginning of a prolonged bear market. A few more years work beats living with thirty years of stress and financial problems.
Also tell those folks that they'll probably live a lot longer than they think they will. Their father's generation retired at sixty five and died at seventy two. That didn't take a lot of financial planning. Live on your salary and retire on your pension. Not anymore. In Arizona, we are surrounded by an army of seventy two year old jocks. These people run, play tennis, hunt, fish, travel, golf, ride bikes, and take Tae Bo. You name it.
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