Great article! I love the section about having cash and bonds for the downturns in markets to get you through some years of market volatility, instead of selling stocks. That has been a plan we are using in our retirement and it’s working out very well!
Hi Robert, a handful of our advisors have tested Larry’s MaxiFi planning software, and one advisor in particular is currently doing a deep dive. More broadly, though, our advisors have spent years refining the planning process that works best for them. Most use a combination of planning tools, along with their own analysis and experience, to deliver highly personalized, tax-aware advice. They’re focused on getting the right answer for each client, not on using any one particular software.
What's important is the principled foundation from which software is built, whether MaxiFi or any other. We have the ideas of Nobel Laureates that your advisors can apply to produce the right answer for each client. Each client has their details. Every client presumably wants to optimize their living standard subject to their preferences for risk, charitable giving, and other attributes. You will have a comparative advantage over many other firms if you add this to the toolkit. I hope you all do.
Great article! I love the section about having cash and bonds for the downturns in markets to get you through some years of market volatility, instead of selling stocks. That has been a plan we are using in our retirement and it’s working out very well!
Thanks for reading, Linda. A well-crafted plan is invaluable, and I'm glad to hear it's working out.
Hi Pam, do you and your vetted advisors use life-cycle software like MaxiFi Planner to support your spend and save recommendations?
Hi Robert, a handful of our advisors have tested Larry’s MaxiFi planning software, and one advisor in particular is currently doing a deep dive. More broadly, though, our advisors have spent years refining the planning process that works best for them. Most use a combination of planning tools, along with their own analysis and experience, to deliver highly personalized, tax-aware advice. They’re focused on getting the right answer for each client, not on using any one particular software.
What's important is the principled foundation from which software is built, whether MaxiFi or any other. We have the ideas of Nobel Laureates that your advisors can apply to produce the right answer for each client. Each client has their details. Every client presumably wants to optimize their living standard subject to their preferences for risk, charitable giving, and other attributes. You will have a comparative advantage over many other firms if you add this to the toolkit. I hope you all do.