When you go onto Google or Mapquest to get directions it typically asks you two things:
1) Starting location
2) Ending destination
Often in the financial industry prospective clients sit down with an advisor who quickly begins proposing “roads to take” without fully nailing down and understanding their starting point and ending destination. These “roads to take” typically come in the form of investment recommendations.
Creating a strategic retirement game plan takes time if you want to do it right.
That’s why our first meeting is all about nailing down these two things.
The goal of the first meeting is to get to know you, who you are, what’s important to you, what’s not important to you and what your goals, concerns and dreams are.
We also want to take a look at what your money is currently invested in, and what you want your money to do for you down the road.
Do you want it to produce income, grow or simply keep up with inflation?
What sort of risk, liquidity and cost do you feel comfortable with?
Only after we’ve nailed down both of these can we propose possible “routes to your destination” that might make sense.
How do you know what roads to take without knowing where you’re going or where you are?
The answer is simple, you don’t.