I have had a couple of conversations recently with people who have come to the same conclusion about 2022. It goes like this: the financial markets have tanked, they have made no progress whatsoever toward their long-term investment goals, and they’re declaring the year a total loss.
If you Google “questions to ask a financial advisor,” you’ll find a plethora of articles out there listing out dozens of things to ask your new financial professional. There are so many that we’ve randomly pulled three and put them here, here and here. Even if you don’t read further, at least you have that. This strategy also works for accountants, and probably for your plumber or electrician. And while we haven’t tried, it might also work for your proctologist.
If the 80/20 rule applies to everything in life, then I’ve got to assume that the 20 percent of you who ask a lot of questions in your planning meetings have a pretty good understanding of our financial planning discussions. For that 20 percent, you’re good to go, and I love the questions you ask – it helps me understand what’s going on in your head, and to gauge your understanding of these not-so-everyday kitchen conversation topics.
A teacher friend of mine recently asked me a question. She does something in her classes she calls Financial Fridays, where she talks to her high school students about a useful financial topic each week. (I wish more teachers would do this!). She wanted to know the number-one piece of advice I would give to a person just out of high school to set them up for future financial success.
I don’t know about you, but I love Halloween. The creative costumes, haunted houses, adorable kids (and the chance to act like one!), plus copious amounts of candy all add up to one of my favorite holidays.
With Halloween happening earlier this week (and all the candy still staring at me!), I got to thinking about some of the “money monsters” we see our clients facing, and how to keep them from sending you running in fear.
But first, I also want to outline a few habits we recommend that can produce scary-good results as well.
The cooler weather has finally arrived and it officially feels like fall in the Bluegrass! Before you know it, holidays will be upon us, and we’ll be embarking on a brand new year. But before 2017 arrives, make sure to finish 2016 on a strong financial note. It’s important to review your finances and financial goals now, before hectic fall and holiday schedules get in the way, and you’re scrambling to get things in order for the new year. Taking care of these to-dos today could make the end of 2016 and the beginning of 2017 much more relaxing.
For lots of people, starting out investing in the financial markets feels a lot like gambling. It can be scary for even seasoned investors, but if you don’t know what you’re doing, well, it’s next to impossible to develop a strategy that will work for you long-term. Sure, it can be fun to buy a $5 stock and watch it double to $10, but it could just as easily plummet to $1. Roulette, anyone?
We’ve been talking this month about various assumptions and misconceptions people make when it comes to hiring a financial planning team. No, you don’t have to have everything figured out to work with a financial professional. That’s like thinking you have to already be in good shape to go the gym! Helping you get your financial life together is what we do, after all.
One question I am asked often in this business is, what makes a good client for Family Financial Partners? Last week, we talked about common assumptions people make about working with a financial advisor. Today, I want to take a look at what makes a good client, and some of the misconceptions we hear about this as well.
For those of you reading this who already work with our team, thanks! We always appreciate your business and your referrals. If you’re reading this and you don’t work with us yet, I want to address some of the common misconceptions that keep people from picking up the phone and scheduling their complimentary first meeting with us.
*Representatives are licensed to offer insurance and annuity products in AL, FL, GA, IL, IN, KY, MA, ME, MI, MO, NH, OH, SC, and TN and are licensed to offer investment products in AK, AL, AR, AZ, CA, CO, CT, FL, GA, IL, IN, KS, KY, LA, MA, MD, ME, MI, MO, NC, NE, NH, NM, NV, NY, OH, OR, PA, SC, TN, TX, VA, WA, Washington DC and WV. This website and its content are not intended for residents of other states. Securities offered through: The O.N. Equity Sales Company, Member FINRA/SIPC, One Financial Way, Cincinnati, OH 45242. 513.794.6794 Investment Advisory Services offered through The O.N. Investment Management Company. Estate Planning Services provided in conjunction with your licensed legal advisor.