Jump on the bandwagon: National Save for Retirement Week

Coin jars In the world of investing, jumping on bandwagons is not usually a recipe for success. Buying when everyone is buying can lead to prices being bid up beyond their fundamental value; selling when everyone else is selling can cause prices to plummet. As Warren Buffett has often been quoted as having said, “Be greedy when others are fearful and fearful when others are greedy.” But, I would argue that this week, there is an investment bandwagon worth jumping on: National Save for Retirement Week. Since 2006, the third week of October has served as an excuse for encouraging investors to focus on their nest egg. To help you engage your clients to think about – and act on – their retirement planning, consider leveraging the most popular retirement-related Helping Advisors blog posts below. For tips on getting the conversation started with your clients, read:
  • How to help clients assess their current financial health – help clients ease into the retirement planning conversation by asking them questions (like the ones listed in this post) that are tailored to the life stage they’re in.
  • Feeling financially secure is good. Being financially secure is better – help clients identify – and continuously track – the important numbers that will help them make financial security a fact rather than a feeling.
For insights into avoiding common investor behavior pitfalls related to retirement planning, consult:
  • Helping clients balance their heart, mind and portfolio – help your clients navigate the tug-of-war between the heart (emotions) and the rational mind that is often spurred by money-related decisions.
  • 3 myths of retirement investing – make sure your clients don’t fall prey to the three most common retirement savings myths
  • Balancing risk, return and investor behavior – raise awareness among your clients that they may need to take on more risk in their portfolio than they would ideally desire in order to reduce the probability of running out of money.

The bottom line

Use the National Save for Retirement Week as an excuse to have a planning conversation with your clients. Address it with younger clients too. The earlier they start saving and building good habits, the more likely they will be to reach their goals. Plus, disciplined, young clients may be worth more than you (and they) realize.