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.

Other content you may like

  • Implement a Family Debt Ceiling

    September 17, 2024
    Adopting a personal debt ceiling can be a transformative step for families, helping your whole family to stay focused on their long-term financial objectives. In the process, there are several benefits along the way, such as promoting financial discipline, reducing stress and avoiding excessive debt.
    Read this Article
  • The Surprise Science of Gift Wrapping

    The Surprise Science of Gift Wrapping

    December 21, 2021
    They say appearances can be deceiving. In the case of gift giving, they might be right. Consumers in the U.S. spend billions of dollars a year on wrapping gifts, in most cases to make their presents look as good as possible. This includes money spent on paper, boxes, ribbon and pretty bows. While some people […]
    Read this Article
  • Planning Your Exercise & Your Financial Fitness

    Planning Your Exercise & Financial Fitness

    June 28, 2022
    Most people don’t prepare to invest and that’s a big mistake. Using the analogy of getting physically fit, this article explores ways that you can prepare for financial uncertainty in much the same way you spend your energy to prepare your body for the stress of a fitness goal or staying active and healthy into your golden years. Preparation matters.
    Read this Article
  • What's Driving the Market

    Podcast Highlight - Housing Pessimism and the Cost of Borrowing

    June 16, 2023
    A big part of the GDP is the housing market. With recent stats that indicate pessimism with home buying, the team talks about median house prices and the cost of borrowing in the context of a mortgage.
    Read this Article
  • The link you have selected is located on another server. The linked site contains information that has been created, published, maintained, or otherwise posted by institutions or organizations independent of this organization. We do not endorse, approve, certify, or control any linked websites, their sponsors, or any of their policies, activities, products, or services. We do not assume responsibility for the accuracy, completeness, or timeliness of the information contained therein. Visitors to any linked websites should not use or rely on the information contained therein until they have consulted with an independent financial professional. Please click “Continue to Link” to leave this website and proceed to the selected site.
    phone-handset