When is it too late for financial planning?

AT A press briefing for financial advisory firm MoneyOwl’s new retirement-income planner, a reporter was asked: Did he think his parents would benefit from it?

His reply was: “My parents are too old.” I was momentarily nonplussed.

Of course, I don’t know his parents’ ages. Financial planning may arguably be too late for people in their mid-70s or 80s.