Waiting Out the Storm with Retiree Clients: The Long-Term Perspective Prevails

Most, Bruce W.
December 1998
Journal of Financial Planning;Dec1998, Vol. 11 Issue 6, p36
Academic Journal
This article provides information on several measures adopted by financial planners to prepare and reassure their clients in the event of a market downturn. Many planners reported making special calls to retirees they thought might be particularly edgy. Making phone calls, writing letters, and personally reassuring retiree clients during tough times that they are not going to have to unretire is necessary handholding, according to planners. Yet virtually every one of them said that for such handholding to work, the groundwork must have already been well laid in advance. Planners also prepared their clients by building portfolios that could weather a downturn in stocks. As one might expect, most of the retiree clients have a relatively conservative mix of stocks, bonds cash equivalents and other assets, especially compared with nonretirees. Planners also build bigger short-term cash cushions for their retirees than they do their other clients. Cushions of short-term treasuries, bonds and certificates of deposit run anywhere from six months to as long as five years.


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