Veres: Don't underestimate clients' retirement expenditures

11/26/2012 | Advisor Perspectives

Advisers can dramatically underestimate clients' retirement lifestyle expenditures if they rely on Labor Department statistics and standard spending models, writes Bob Veres, publisher of Inside Information. Many spending models assume clients' lifestyles will remain constant in retirement. Veres recommends that advisers assume higher "real" yearly cost increases for clients than the inflation rate in their Monte Carlo simulations.

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