I'm often surprised at how little our industry does to assist in managing retirement cash flows. There's a wide gap between what a traditional broker does for their clients and what our clients can expect.
Check this out for the details...
If you've ever heard of index funds and know what they are, it's fair if you also think that the Mindful Wealth approach to investing uses them. Indexing is a straightforward methodology that helps get extreme diversification while keeping costs as low as possible. We like that.
It's a remarkable way to build a portfolio if you have no other options, and I strongly encourage investors regularly to go that route if they're not interested or willing to hire an independent advisor.
Still, there are big differences between index funds and the funds that we use in our portfolios.
I have a memory as a kid of using AAA's triptik on road trips with custom highlighting on the preferred route and inked stamps of construction spots and speed traps. It was an excellent tool at the time. But, the beauty of modern GPS on smart phones is the ability to adjust, reroute, and view multiple options on the same screen. I'm confident the AAA agent would have scoffed at the idea of making multiple versions of a triptik if you had wanted to prepare for surprise detours.
A similar story has played out in financial planning as the industry has slowly adopted a more sophisticated planning tool. Check it out...