ask the “best hopes” question.
by rory henry
the holistic guide to wealth management
when helping clients plan for retirement, exit their businesses or reach other major financial goals, we tend to default to the numbers. financial projections, spending needs, drawdown rates and risk tolerance are great navigational aids, but as lewis carroll wrote in “alice in wonderland,” “if you don’t know where you’re going any road will take you there.” however, a new approach is showing that getting in tune with our future selves is one of the best ways for clients and their advisors to plan for retirement.
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as a result, we must continually adjust our goals, including retirement planning, and that comes by getting well acquainted with our “future selves,” according to ucla professor hal hershfield. he said that while it’s important for you to consider the goals for yourself when it comes to money and saving, it’s just as important to think carefully about the goals you have for your future self long after you have stopped earning an income.
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