The law of the hammer is a cognitive bias to treat every problem as if it’s a nail. People do that with money. As financial professionals, however, we want to be clear that money won’t buy a fulfilling retirement. Money can take the worry out of your retirement, but it does not give your life more meaning or make it more fulfilling. Simply put, your financial bottom line is not necessarily the best measure of living a fulfilling life. Yet the two goals are often confused; Financial goals are often thought of as the objective of financial planning, but helping clients define their non-financial goals is just as important.

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