Tags: Obama | lunch | financial | planner

If Michelle Obama Was Your Financial Planner

By    |   Wednesday, 04 Jun 2014 07:47 AM

Her position on school lunches offers some insight into the type of advice First Lady Michelle Obama would provide if she had become a financial planner. With a single-minded focus on what she believes, she'd tell clients they must save enough for retirement even if it means making unacceptable sacrifices now.

Dogmatic pronouncements rather than personalized advice would leave many clients overwhelmed.

We gain this insight from her actions toward students. For some reason, the type of food and the size of the servings that school cafeterias place on a student's lunch tray are determined by the federal government. The First Lady felt lunch was the perfect opportunity to introduce students to healthy meals and Department of Agriculture rules were changed to require more fresh foods.

Eating healthy is an admirable goal, but it can be more expensive and not everyone likes the mass-prepared healthy foods served by cafeterias. Some schools are seeking relief from the rules after students stopped eating foods mandated to be in their best interests. Officials at some schools note required foods cost more. As lunch sales drop, schools lose money serving lunch.

The First Lady's response in a recent op-ed published in The New York Times is that critics "want to make it optional, not mandatory, for schools to serve fruits and vegetables to our kids. They also want to allow more sodium and fewer whole grains than recommended into school lunches."

In other words, local school officials want to direct limited resources to where they can do the most good and Mrs. Obama is offended anyone would think of doing something like that.

Some financial planners take a similar approach and urge excessive sacrifice today to save for a distant retirement. That is as unrealistic as Mrs. Obama's desire to dictate lunch in every town and city across America.

Sometimes buying a home would make more sense than saving for retirement would. At other times, a family vacation could provide more benefit than an austere lifestyle could.

Michelle Obama would be a terrible financial planner with unbending principles and a scolding nature. We need solutions rather than lectures from our unelected officials and from our financial planners.

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MichaelCarr
Her position on school lunches offers some insight into the type of advice First Lady Michelle Obama would provide if she had become a financial planner.
Obama, lunch, financial, planner
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2014-47-04
Wednesday, 04 Jun 2014 07:47 AM
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