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CFP® Practice Question of the Week: Retirement

During an annual review with Anna and Lawrence Harvey, a CFP® professional discusses their retirement objectives. Because of weak market performance over the past few years, it appears that they are no longer on track for retirement. How should the CFP® professional best direct discussion of this situation?

  1.   Tell the Harveys that they must increase their monthly savings
  2.   Recommend no changes since the market is likely to recover in the long term
  3.    Discuss alternatives currently available to increase their likelihood of success
  4.    Suggest that they postpone their retirement date until the economy recovers