The state of being completely sure or confident about something, certainty implies a high degree of confidence in a situation. As explored in this article, financial certainty is important to all clients at all stages of life, especially in retirement.
When someone is certain about something, they have little or no doubt regarding its validity. Often subjective and varying from person to person, certainty is generally based on a combination of evidence, personal experience, knowledge and sometimes, intuition.
When it comes to managing finances – both in the accumulation and decumulation phases – certainty is a critical factor in decision-making. Why? Because it helps individuals navigate through life’s complexities and make good decisions with confidence.
However, how certain can one be when considering finances? Attributed to Mark Twain, but spoken by others before him, “The only two certainties in life are death and taxes.” The value of financial advice, however, is to deliver as much financial certainty to clients as possible.
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