Does Your Financial Planning Account for the Worst-Case Scenario?

What happens when your financial planning backfires or doesn't account for the worst-case scenario? Harold Evensky is a Certified Financial Planner ® who has some evergreen advice for investors. Harold meets with many investors who share the trait of being overconfident in their financial decisions. He explains how a financial planner, like himself, can help them see the big picture. Today's guest is Harold Evensky, a Certified Financial Planner ®. He explains how he helps clients prepare for the unplanned for circumstances. He uses a technique called "framing" to help investors look at the big picture and really understand what risk means. Often an investor's overconfidence will cause them to ignore some very real possibilities. Be warned: certainty and safety are the not the same thing in financial planning! How to be prepared for a job loss Do you work in an unstable work environment? An unstable work environment could be a startup or high-tech company or someone who works on commissions. Doug has tips for someone who may not have a steady source of income. While saving all you can is great advice, it may be worthwhile to create alternate sources of income like Real Estate Investment Trusts (REITs.) Download a list of tips on How to Manage Your Investments When Your Main Income Source Could Collapse at Any Moment. Free Download: How to Manage Your Investments When Your Main Income Source Could Collapse at Any Moment Learn more about Harold Evensky at www.evensky.com, or read his book, Hello Harold: A Veteran Financial Advisor Shares Stories to Help Make You Be a Better Investor. He's offering free copies to the first 20 Goldstein on Gelt listeners who contact us through the Goldstein on Gelt website. Please include your name and address with your message. To learn more about Roger Whitney and his 5-minute retirement plan, go to rogerwhitney.com/5minuteretirementmakeover. If you're not already receiving updates on new episodes, sign up now, and as a special bonus, receive Doug's free ebook The Retirement Planning Book.