In recent months my colleagues and I have spent considerable time talking to clients about what not to do in the face of the recent market volatility: don’t panic and abandon your asset allocation strategy.

There are many important events in life that require one to plan ahead. We devote a significant amount of effort in planning ways for our clients to handle a wide variety of risks. For those without an advisor, or an advisor who only advises on certain aspects of the market, the result of waiting to begin the planning process can be devastating.

What is one’s portfolio income capability? It is different for everybody, but in simple terms it is how much income your assets can reasonably produce while ensuring a high probability that you will have enough money to last for the rest of your life.