# Financial Planning You Can Afford - article from AARP



## JonSR77 (May 9, 2022)

Financial Planning You Can Afford - article from AARP​Time to debunk the financial planning myth

https://www.aarp.org/money/investing/info-2016/affordable-financial-planning.html​


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## Lethe200 (May 10, 2022)

Well, it doesn't say much about a complex subject. 

Can a person DIY? Sure. I did it, and our financial planning actions were good enough that we were congratulated by two separate independent CFP firms. The firm we picked introduces us to their new staff as "These are the clients we wish all our clients were like." LOL!

But I was VERY lucky. The jobs I had varied during my career, but I inadvertently learned different aspects of financial planning from several of them. We were late getting started at seriously saving $$ for retirement, but again fortunately, the state pension fund began an intensive (and ongoing) program of seminars on how to plan for retirement. 

The classes and talks covered all aspects:* pensions, SocSec, Medicare, private insurance (of all types, including homeowners and LTCi), investing and saving, inheritance, IRS tax laws/changes. *There were a couple of programs we took more than once, because there was so much data to absorb, it really takes time before you can assemble it all into a coherent, holistic subject. 

I have managed to encourage a few people to start saving for retirement, and I can only hope things will work out for them. It did for us, even with a late start, as we were lucky to have several bull markets as well as solid pensions. 

Trying to do adequate financial planning in your late 50's or 60's is almost impossible. One needs to start as early as possible. We were in our early 40's, and IOHO we were minimum 10 yrs too late in starting. Only happy circumstance enabled us to overcome that lag.

The future is going to be tough on the poor - and many of the poorly prepared. It's always been that way, but it's worrisome that for a nation as wealthy as we are, there are so many of those first two groups these days. I read that by some standards, the number of Americans in the middle-class has now fallen to only 17%. For the US to have fallen below the critical 20% threshold that relates to a stable political/economic system, is not a happy thought.


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## ElCastor (May 10, 2022)

Interesting topic, but I think it's fair to point out that the article is more than five years old and wasn't too well received even back then.


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## gswilli1957 (May 11, 2022)

with things the way they are finally in the country, diversification is key. i use a indexed annuity and a spwl of help.


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