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Using your client’s house to explain the market
I like this example of plain talk cited in Eric Rasmussen’s “Who Ya Gonna Call?” in Financial Advisor Magazine (Dec. 2008).
Michael Kresh of M.D. Kresh Financial Planning uses a down-to-earth image, as Rasmussen describes.
To explain the market to clients, he asks them to imagine what would happen if they were forced to sell their house in 24 hours: A home worth half a million dollars would suddenly plummet to about $100K. And that’s just what’s going on with the stock market.