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“The Big Four”


Carolyn McClanahan is both a medical doctor and a CFP(r) Professional.  I first met her at a NAPFA (National Association of Personal Financial Advisors) convention some years ago and have been a fan ever since.  She recently wrote about the importance of planners helping clients make “The Big Four” decisions.

The first decision is when will a client move, into an eldercare facility or a relative’s home or wherever?
The second decision is when will a client quit driving and how will they know it is time?
The third decision is when will they seek help making their own medical care decisions and how will they know it is time?
And, the fourth decision is when to turn over financial decision-making and how will they know?

No financial planner can make these decisions for a client, but every planner has the responsibility to push clients to think about these decisions.  Nobody likes to think about, much less talk about, the problems of leaving life, but those problems get worse without planning.

Buying life insurance doesn’t make you any more likely to die, and talking about death doesn’t make any more likely to die either.

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