"Downsizing should definitely be on the table if the alternative is an unacceptably large drop in nonhousing consumption, or if current spending results in an unacceptably large risk of outliving your wealth," said Webb.
This sentence has a grade level comprehension of 18 years – that’s a Masters Degree. I had to read it multiple times to understand what Webb was trying to say, and I’m still not sure I got it right. I was confused by the big words, negative prefixes and industry jargon. And I do this everyday! I can imagine how the general population might feel on hearing this.
Why do people in the finance industry talk to the public like this? Clients who can’t understand advisors will not listen. This type of language is hypnotic for investors and puts them in a trance. Their eyes get big and they grin and nod, but never really understand what the advisor is saying. They may say yes to a product, but never really understand how it works.
The author could have paraphrased the quote to make it more readable. Here’s an example: You should think about moving to a smaller residence to cut expenses so you don’t outlive your money.
If I ever do that, and I may, please whack me in the head.