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Article

One Question Your Advisor Must Ask

The One Question Your Advisor Must Ask

Too much focus can be placed on markets, investment returns and stock prices. Does that sound surprising to you? Knowing your goals and how you want to live is important for living a fulfilling life. It is also an important starting point for financial planning. This article explains why you should be pleased when your advisor asks you this question.

September 24, 2022
The One Question Your Advisor Must Ask
Important Disclosure: Content on our website and in our newsletters is for informational purposes only. The information provided may (or may not) directly apply to your situation. We recommend that readers work directly with a professional advisor when making decisions in the context of their specific situation.

How you arrange your financial life is important. But so too is how you live your life. The second part is unfortunately often neglected in financial planning. Would you rather own your own business? Travel more? Write a novel?

With an enormous amount of focus on investment returns and stock prices, one key question that all financial advisors should ask their clients is this: “Are you trying to make a living or a life?”

Most of us clearly want to make a life, and so do we. Life means living the way you want to live.

Live the Life You Want

Ask any business owner their top reasons they run their own business and you will likely agree with all of them: control your destiny; choose the people you work with; take on the risk; reap the rewards; challenge yourself; follow your passion; get things done faster; personally connect with clients; and feel pride in something you own.

We help clients build the life that they want to live. Often one’s money and values disconnect. A financial advisor helps point out those discrepancies and highlight ways money can match values. Some advisors, however, take clients no further than that.

Some seem to believe that financial planning involves only planning the finances of our lives. Many planners cut right to the planning without exploring behind the money. Too bad, because identifying a client’s deepest values makes it easier to talk about trimming expenses or increasing income.

We encourage our clients to talk about goals and values. It’s pointless for us to make financial planning recommendations if we don’t know what’s important to them and how they want to live.

Plan for What You Want

Know precisely what you want in life. A financial plan helps you map your goals that lack a clear path.

  • First comes mapping out your big goals;
  • That is followed by costs of each of these dreams and a monthly breakdown of those costs, which might be less than you think;
  • You then look at expenses to see which ones correlate with your dream life.

Strong Valley provides comprehensive wealth management services to our clients using straight-forward, transparent, and an all-inclusive fee-based approach. As part of a comprehensive wealth engagement we can help you craft a clear long-term vision and solution for managing every aspect of your financial life, freeing you to focus on living life to the fullest today and free from worry about tomorrow.

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