Joe meets with Erik and his wife to make sure they can articulate and understand their investment goals and risk tolerance before he makes a recommendation. “Based on you feeling comfortable with an aggressive investment allocation, your young age in proximity to retirement/projected need for the funds, and your goals, we reviewed an allocation for your IRA that is heavily weighted toward equities. We went through many details, including fees and expenses. I feel you understand the risks inherent in such an allocation. Now, we can move forward.”
“Joe, thanks for carefully explaining the pros and cons of moving the 401(k) account from my previous employer. I feel confident, and my CPA agrees, that the benefits of moving that 401(k) account to an IRA outweigh the benefits of leaving the funds with my previous employer.”
“Good to hear. I will send you the proper paperwork to complete, an IRA application and a rollover request to DocuSign. I will also send you a calendar invitation for a final review and to answer any other investment questions you may have. I look forward to working with you over the years.”
Topics and conversations that may seem unrelated to extended or long-term care planning can be a catalyst to overall improved financial family wellness planning, for younger generations as well as those closer to retirement.
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