MARSHFIELD, WI (OnFocus) – There’s nothing quite like the feeling of having your finances in order. No matter what life stage you’re in, working with a financial professional can help provide clarity when it comes to managing your money. Whether you’re just starting out, growing your family, preparing for retirement or currently retired, there are several questions you should be prepared to talk through and answer when meeting with a financial professional.
Knowing where to start and what questions to ask – especially if you’ve never worked with someone – can feel a little overwhelming. But by preparing beforehand, you will have the confidence you need to make the most out of your meeting and start to lay a foundation for achieving your most important goals
Below are some questions to prepare you for a conversation with a financial professional. Take some time to review these with a spouse or trusted family member to make sure you’re capturing everything you’d like to cover in your meeting.
Just starting out
You may be asked:
- What’s important in your life today?
- What do you want to accomplish for yourself and your family?
- How do your values shape your financial goals?
You may want to ask:
- How will you work with me in support of my goals?
- What are things that could derail me or keep me from achieving my goals, and how can you help me?
- What are your areas of expertise and what resources do you have to help me?
Growing your family
You may be asked:
- How do you and your partner handle financial questions or concerns between the two of you?
- Do you have a will, a power of attorney and a health care directive in place?
- What’s your philosophy for helping others?
- What role does charitable giving play?
You may want to ask:
- How do you work with people to plan for their children’s education goals?
- What resources—people and tools—do you have available to support me in all stages of my life?
- How do you work with people to help them think about topics such as investments, insurance, retirement, paying off debt and building savings?
Approaching retirement
You may be asked:
- What would success in retirement look like to you?
- When do you want to retire?
- Do you have a plan for how to start spending money once you’re not earning it anymore?
You may want to ask:
- How do I figure out how much I need?
- What should I be doing with what I have; how do I decide?
- How do you help people think through turning savings into income, or applying for Social Security?
In retirement
You may be asked:
- What type of financial legacy do you want to leave?
- Is your current retirement budget meeting your needs?
- When were your wills, powers of attorney, medical directives and beneficiaries last reviewed?
You may want to ask:
- How do you help people make sure they don’t outlive their assets or income?
- How do you help people deal with inflation and taxes?
- How do I leave a legacy besides passing money on to my children?
Ultimately, meeting with a financial professional should be an opportunity to share more about yourself and how you’d like to connect your finances to your values throughout your entire lifespan. By using these questions as a roadmap, you’ll be able to find the right financial professional who can serve as a trusted partner and help you live a life filled with gratitude and purpose – today and tomorrow.
This article was prepared by Thrivent for use by Marshfield Financial Advisor, Nate Heeg. He has offices at 2001 S Central Ave, Ste I in Marshfield and can also be reached at (715) 389-2278.
About Thrivent
Thrivent is a diversified financial services organization that helps people achieve financial clarity, enabling lives full of meaning and gratitude. Thrivent and its subsidiary and affiliate companies serve more than 2.3 million clients, offering advice, insurance, investments, banking and generosity products and programs over the phone, online as well as through financial professionals and independent agents nationwide. Thrivent is a Fortune 500 company with $162 billion in assets under management/advisement (as of 12/31/20). Thrivent carries an A++ (Superior) rating from AM Best, a credit rating agency; this is the highest of the agency’s 16 ratings categories and was affirmed in June of 2020. Rating based on Thrivent’s financial strength and claims-paying ability. Does not apply to investment product performance. For more information, visit Thrivent.com. You can also find us on Facebook and Twitter.
Thrivent is the marketing name for Thrivent Financial for Lutherans. Insurance products issued by Thrivent. Not available in all states. Securities and investment advisory services offered through Thrivent Investment Management Inc., a registered investment adviser, member FINRA and SIPC, and a subsidiary of Thrivent. Licensed agent/producer of Thrivent. Registered representative of Thrivent Investment Management, Inc. Advisory services available through investment adviser representatives only. Thrivent.com/disclosures.
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Author: News Desk
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