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This report will also delve into benefits which are forfeited when looking at financial planning from a microeconomic perspective, limits placed on retirement income distribution planning when being self insured and additional risks assumed when going in this particular direction.
Description
You’ve probably heard it before – and maybe more than once. ‘You will be better off’ if you buy term life insurance and invest the difference! Recently I experienced a financial planner (CFP®) going through a process which led clients of mine to believe exactly that. As it was in this case, unfortunately many details are usually left out of the evaluation. Most assessments approach the subject from a microeconomic (narrow focus) analysis.
The actions of the financial planner gave me the impetus to write a report which analyzes the topic by including the calculation of true costs and lost opportunity costs associated with this real life situation. These costs are variables often ignored in planning. It appears these factors were ignored by this planner. You can use this report to explore for yourself how limited today’s financial planning is in its scope in addressing this topic.
This report will also delve into benefits which are forfeited when looking at financial planning from a microeconomic perspective, limits placed on retirement income distribution planning when being self insured and additional risks assumed when going in this particular direction. Details of the case provide a nice backdrop to study a real-life situation in an educational format.
This report is downloadable in Adobe Acrobat Format (PDF).
