The warning signs continue to mount that Americans are not saving enough for retirement – a recent study predicted three in five retirees will outlive their money if they try to maintain their working standard of living, but one financial adviser says most of her colleagues are still doing all the wrong things to help clients avoid this fate.
“The paradigm needs to shift: the whole idea of a balanced portfolio with asset allocation – modern portfolio theory – with systematic withdrawal is nuts,” says Erin Botsford, a financial planner and author of “The Big Retirement Risk: Running Out of Money Before You Run Out of Time.”
