December 2024 • www . fa-mag . com

VER THE LAST 25 YEARS THAT WE ’ VE PUBLISHED Financial Advisor , it ’ s remarkable how many things have changed and how many have remained the same .

Advisors are more vital than ever at helping clients resolve dilemmas at a time when more choices and opportunities are arising that people couldn ’ t have imagined . Rising wealth levels and increasing life expectancies continue to reshape traditional retirement planning , most of it for the better .

But it is also striking how fragile America ’ s relative good fortune is , as we ’ ve been reminded time and again . Most of us were blindsided by the attacks on September 11 , 2001 , by the financial crisis in 2008 and by the pandemic in 2020 .

America bounced back and recovered from the coronavirus pandemic faster than almost any other nation , and yet a melancholy mood pervades much of society . Many people feel they aren ’ t participating in the rebound . Some probably retired earlier than they should have ; others experienced disruptions for the worse .

As the recent presidential election revealed , the gap between the economic statistics and how people feel about their lives and the direction of the country is glaring . According to many surveys , two out of three Americans believe the nation is heading in the wrong direction . Finfluencer Kyla Scanlon fittingly labeled it the “ vibecession .”

Another takeaway from the post-pandemic election is how many Americans are living in almost separate universes . From a financial perspective ,

Advisors are more vital than ever at helping clients resolve dilemmas at a time when more choices and opportunities are arising that people couldn ’ t have imagined .

KNOWLEDGE FOR THE SOPHISTICATED ADVISOR

20 Questions About Succession Is the right person taking over the firm you built ?

Trading Spaces Empty nesters ponder the move to smaller houses .

Roth Conversion Pitfalls Mistakes might be made .

Advisors assess the aftermath of recent hurricanes on America ’ s favorite retirement destination .

that also seems particularly pertinent : Few advisors ’ clients deviated from their financial plans and took early retirement in the 2020-2022 period , even though millions of other Americans did .

Millions of Americans also chose to move to Florida in those years . Many went to retire , while millions also moved for their jobs .

In this month ’ s cover story , senior writer Ben Mattlin examines the subject of retiring in the Sunshine State . Florida benefits from no income taxes , beautiful beaches , a growing list of cultural activities and nice weather for nine months of the year , attractions few states can match .

But housing is no longer as affordable there , and insurance policies are filled with loopholes and prohibitively expensive for many . Florida has bounced back before and it no doubt will again but , for now at least , the migration boom seems to be short-circuited . For clients seeking advice on deciding where to retire with their eyes wide open , advisors can be invaluable .

Evan Simonoff

Email me at esimonoff @ famagazine . com with your opinion .

8 | FINANCIAL ADVISOR MAGAZINE | DECEMBER 2024 WWW . FA-MAG . COM