I have a few friends that are financial advisors and it is astonishing to me that none of them adjust for inflation when determining the amount you need to retire.
Inflation compounds.
Feels like a tragedy in the making.
Discussion
Fail! While it’s often very helpful to meet with some version of a knowledgeable financial planner, they are hamstrung by their HQ or Broker (basic assumptions about inflation, rates of return, allocation strategies , no bitcoin, etc). I had to ask to have a bunch of default assumptions changed. And don’t even give them my assumptions on BTC. Another industry in need of catching up.
It's tough to see the forest through the trees if you are a lumberjack.
WOW
To do so would expose how their plans fall short in terms of actual purchasing power, which is the only thing that matters at the end of the day.
It's amazing the spell that number go up casts on the plebs.
Feels like proper FIAT thinking
Highly regulated. They need to stick to a script that gives them a certain amount of leeway to "advise." But the truth is that even if you weren't a bitcoiner, you just need to open a brokerage account and buy ETFs.
The fact that so many people pay 1% for someone to do this on their behalf because they're unwilling to take even a small amount of personal responsibility is quite telling.