Dangers of Needs Based Planning

The following video "Dangers of Needs Based Planning" shows the common financial, "My financial plan will meet all of my needs." The message of this videos is, how traditional planning, "Needs Analysis" forgets to focus on how the world is not a static place and individuals don't have a "number". Depicts that a financial plan is out of date as soon as it is printed and how The Living Balance Sheet philosophy does not set parameters and is ever changing, and helping individuals prepare for those unforeseen life events. Throughout this video it highlights how living by a set of parameters set out in a financial plan (e.g., rate of return, expected income in retirement, etc...) is not possible due to unexpected life events, changes in tax rates, or a higher tax bracket in retirement, etc...

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Education

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