Wednesday, August 4, 2010

Introducing the Retirement Resource Center

Recently name was asked a few questions about firm name's activities with the Retirement Resource Center.

Can you explain to me what the Retirement Resource Center is?
The RRC is a not for profit undertaking of (firm name).  Our purpose is to provide a reliable source of financial and retirement education and advocacy for those within a few years of retirement and the newly retired.

Where did the RRC concept come from?
The RRC is a response to the enormous stresses that the 2008 financial crash placed upon those in or near retirement.  We saw people's 401K plans halved, long laid plans go up on smoke which had to have caused people a lot of anxiety.  Yet no one was coming into our offices to talk about it. 

Why do you think that was?
We concluded that people were either in denial or had given up.  It was clear to us that they didn't realize the magnitude of resources that were available to cope with the unprecedented events of 2008 and 9.  It was also clear to us that they had a healthy distrust of the "Investment industry" - they've been 'sold' so many times and were worried that by sharing their concerns this would happen again.

So what did you do? 
We decided to do something completely out of the box.  We began giving away a part of each week on a pro bono basis to give people a safe place to explore their financial concerns, free from the pressure to purchase anything.

How does the Center operate?
Typically we have a series of one hour face to face meetings between a qualifed financial advisor and an individual or couple.  We go through a series of topics:  first we acquaint ourselves with their circumstances, hopes and unique concerns.  We then collect all the information on all their investing, insurance and other financial activities and analyze it and then feed it back to them.  For most of them, this is the first time that they are seeing the whole picture at once

What is their reaction to seeing it all laid out?
It's a little like watching an old Polaroid picture develop before your eyes.  It enables them to see just what the real issues are and to let go of some of the things that they had been worrying too much about.  And once the picture is clear the rest is relatively easy, though not simple:  We have a strategy session where we go through all of their options on how to manage their financial assets and other related components like wills, insurance and taxes.  We help them organize in their minds how their finances should be managed and what outside expertise they need.

You make a special effort to focus on healthcare, don't you?
Yes, one of the most predictable and dangerous events retirees can face is a health care crisis.  We help them look explicitly at the impact of such an event.

What's the catch?  What do you want from them?
No catch.  We simply say that if they found the RRC to be useful that once their time is done, they introduce another similarly placed couple to the  program.

What has been the response to the RRC?
Nothing short of amazing.  We knew there was a need but we were initially unprepared for the scale of the response.  We increased our share of time devoted to the program from 10 to 25% just to cope with the demand.

Who underwrites the Center’s activities?
We (company name) and other like minded financial advisory firms provide the infrastructure and skilled resources to fulfill the Center's mission on a pro bono basis.

If there was one more thing that you wished that people knew about the RRC what would it be?
RRC is a safe, pressure free environment where you can honestly share your hopes and dreams and begin to build a vision of what the future could be.

How can someone who is interested in taking advantage of the Center do so?
It's simple, just contact me on or call me on

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