I recently heard about a new company called FinMason. They understand that there is a retirement crisis going on, and that the majority of people do not save anywhere near the amount of money that they need to save.
Kendrick Wakeman, founder and CEO of FinMason, understands this. In his article on CNBC, Risk tolerance is a blind spot for ‘accidental’ investors, he says:
Whether investors are saving for retirement, a college education for their kids or their first home, it's never been more important for them to have a strategic understanding of risk tolerance in order to meet their goals.
This is magnified when you consider that many households have become investors by “accident” or are saving for retirement via their employer's 401(k) plan, with little or no financial training.
For those with retirement in mind and a far shorter runway from which to build wealth — or rebuild it, in the event of an unexpected downturn — it's only that much more critical to have a view into the different scenarios that could alter both their near- and intermediate-term plans.