John's Articles

Originally Published on Forbes.com

Beware the Financial Industry’s Annual Retirement-Terror Campaign

February 6, 2014
It’s that dreaded time of year when most of us get on our scales and realize with a heavy sigh that we’ve gained another ten pounds, and it’s when we sit down to do our year-end financial reckoning only to realize with a sinking feeling that we’ve missed our money goals, too. Where did all that weight come from? Where did all my money go? It’s that dreaded time of year when most of us get on our scales and realize with a heavy sigh that we’ve gained another ten pounds, and it’s when we sit down to do our year-end financial reckoning only to realize with a sinking feeling that we’ve missed our money goals, too. Where did all that weight come from? Where did all my money go?

The financial industry knows this and reaches out to millions of customers with detailed questionnaires on which you’re supposed to record what you spent last year on everything from newspapers to mortgage payments. If you manage to get through this deflating exercise without giving up, your advisor’s firm will churn out a computer generated projection with graphs that, more often than not, show you’re going to run out of money before you run out of time.