Today's Hack

Do you believe the customer is always right? Or are you open and coachable when it comes to working with your advisor on your financial plan?

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Show Notes For This Episode

Today’s Hack:

Do you believe the customer is always right? Or are you open and coachable when it comes to working with your advisor on your financial plan?

Click the timestamps below to jump ahead in the episode…

Video Version:

Other Retirement Facts:

We’ve all heard the saying, “the customer is always right”, but are they? When it comes to financial planning, you are going to see an advisor to hear their guidance and wisdom. So, if there’s a disagreement, are you right or are they?

Think about other professionals you meet with. Would you have the same type of response to your doctor? Ultimately, it is your money and therefore your decision, but ask yourself why you are seeking advice from a professional if you don’t plan to follow it.

Is now the time to get out or in the market? What does your plan say? Remember, you won’t be able to completely escape risk. How do you pick what to be invested in? What happens when your advisor suggests a certain fund or product that you don’t want? What are your options?

Sometimes it’s hard not to get impatient. If the market is down, you might feel like you need to make a quick change. Your advisor should help you understand the long-term goals and keep your emotions in check. It’s important that they understand your viewpoint and you understand their strategy before you get to a crisis point.

Are you coachable? Does your advisor coach you in a style that works for you?

1:45 – Would you have the same response with your doctor?

2:28 – Is now the time to get out or in the market?

5:06 – How do you pick what to be invested in?

7:53 – I don’t need/want that.

10:31 – What happens when the client gets impatient or the market is down?

13:59 – Are you aligned with your financial advisor?

Thanks for listening! We’ll be back with another episode next week.

A Quotable Moment:

We have to keep up with inflation. To get growth, you have to take on some level of risk. Is the risk positioned the right way?

-Phil Putney

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