In June 2008, the Financial Planning Association issued an “example” financial plan. The hypothetical clients are John and Joan, a married couple. The plan would reduce the couple’s tax bill from $38,000 to $22,941 per annum, a good outcome. More questionable is a recommendation that the percentage of financial assets invested in growth assets be raised to 70 per cent. An aggressive asset allocation could well suit if the couple were aged either 37 or 77, but John and Joan are 57. The long investment horizon faced by the couple is actually a reason for caution on the cusp of their retirement.