The Old Yeller plan
My most cringeworthy client statements occur when discussing long-term care or disability scenarios. People literally describe murder, suicide or both like it's a better alternative to purchasing insurance or coming up with a plan to self-insure. Someone once told me with a chuckle that they were on the Old Yeller plan for long-term care. Over the years, I've given up laughing it off. I like to confront it straight-on now. Reminding clients of the implications of what they're describing will usually — but unfortunately not always — center them back to a productive conversation.
— Jason Speciner, founder, Financial Planning Fort Collins