FINANCIAL PLANNING QUIZ
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This requires the use of a financial calculator. You are 65 and need $35,000 a year for the next 20 years. Any investment would earn 7.5% after tax and inflation is projected at 3.5%. How much of a "kitty" would be required.
How about 8% return and a 5% inflation?
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If you think that that is too esoteric, have them explain dollar cost average and why it DOESN'T work. If they can't provide the statistical evidence, you probably have a salesperson, not a knowledgeable financial planner.
Then have them go to the investment stock
quiz. If they also know the answer to that, it would appear they are
perhaps well grounded in issues that I believe are required to do financial