Dear Advisors: Financial Plans are Not Retirement Plans
December 27, 2017 by Brian O'Connell
A growing number of financial advisors are pointing out an awkward reality on the investment planning market.
Too many of those plans are really tricked-up retirement plans, and the distinction between the two is important.
“Millions of Americans are walking around with financial plans disguised as retirement plans,” said Peter J. D’Arruda, president of the International Association of Registered Financial Consultants and an investment advisor for 25 years. “A financial plan should not be defined as a retirement plan unless a proper percentage of assets in that plan are devoted to a lifetime income that cannot be outlived.”