Scott Hanson, co-founder and senior partner at $4.5 billion Allworth Financial, sounds more like a life coach. After 27 years in the business, he understands that a big problem many folks have in retirement isn’t that they haven’t saved enough or invested wisely—it’s that they haven’t laid out their life’s goals and are left feeling deflated and unhappy.
— Read on www.barrons.com/articles/plan-for-retirement-by-focusing-on-your-life-goals-51568421815

• Life is about relationships and meaning. When you leave the workplace, people risk losing relationships and their sense of purpose.
• Money is just a tool and can help accomplish what’s important to people. Sometimes, people are still trying to get clarity on what’s important. A financial advisor’s goal should be to help people live rich and meaningful lives.
• The danger of predicting where markets are going to go is that, if things go wrong, there could be dire consequences for life.
• Taxes can take such a big chunk out of wealth. Paying attention to taxes—whether while selling an investment or taking a withdrawal from an IRA or considering a Roth IRA conversion—can mean the difference between paying 15% [on profits] versus 35%.