Are your explanations of investing concepts simple enough that any grandmother out there would understand the principle or idea you’re talking about? If not, it’s not Grandma’s problem – it’s yours.
Use “The Grandma Rule” when explaining any financial concept to your clients. Einstein once said we should make things as simple as possible, but no simpler. I remember an advisor talking about explaining bond yields to his grandmother. He said, “Grandma, you plant a seed and get a tree. The tree produces fruit with more seeds inside the fruit. That’s a great example of ‘yield’.” Grandma got that.
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