A Written Retirement Plan

“Research shows that clients who put their retirement plan in writing are more likely to be successful in managing their income and assets in retirement”

Have you ever written down your goals? There is a reason why so many goal oriented self help books recommend you do that. The reason is if you write down your goals it becomes more tangible. I know when I wanted to lose weight, just thinking about it did not really work. But, when I added an app to my phone that asked me what my goal was and then gave me the plan to reach my goal- I lost all the weight I wanted to lose and more.

The same is true for your clients. Not for losing weight, but for planning for their income needs in retirement. Once they understand the need, it is easier to develop a plan, and more importantly, to implement a plan.

Research shows the following:

  • Clients with a formal written plan are more likely to explore options for guaranteed income plans.
  • Plan development often leads to developing a need for financial products that help manage risk.
  • Formal written plans increase client confidence and help bond the planner to the client as someone who better understands their needs.
  • Clients who get a written plan are more likely to refer you to others.

For all those reasons it is a good idea for the planner to offer a written retirement plan.But more importantly, the written plan is the key for getting your client to retirement in a positive way.

About Jeffrey Berson

40 years in and around the industry has made Insurance a part of my DNA. I have had the pleasure of working with and for some of the greatest minds in our industry. My "Bersonal" View is an attempt to capture some of the best ideas, the best concepts and the best practices in a way that can lead to success for others. It will certainly be my point of view, so please...don't take it "Bersonal".
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