I have a great staff and one of the responsibilities they have is to schedule clients for ongoing reviews.
There are some who might say, didn’t we review my stuff last quarter or last year? Hopefully so, but each year during a person’s financial life there are changes to one’s personal financial wellbeing.
It’s not unlike going to the doctor. I’m not happy about scheduling annual blood tests and getting naked in front a casual acquaintance; but I know that my doctor wants what’s best for me – a long and healthy life. During my last annual physical my doctor mentioned that it was unusual for someone my age not to be taking any medications. I hope that’s because of some of the steps I’ve taken with my health along the way and the advice and counsel of my doctor.
The same goes for you and your financial health.
First, there is what going on inside me? Have your goals and ambitions changed since the last time we got together? Are you still enjoying your job, if you work; or have changes to your life occurred if you’re retired? Has your 401K plan at work changed? Have new investment options been added? Have your thoughts on the economy changed? What do you worry about in the future? Have you been updated on how taxes could affect your retirement planning? Have you calculated the annual changes to Social Security and how that could affect your future?
Have you named a trusted contact for your accounts other than your spouse? Have you talked about how a low interest rate environment may affect your liquidity concerns? Have your beneficiary designations on your retirement plans at work and your life insurance policies at work been reviewed? Has it been explained how these could contradict your will? Have you completed that will that you and I have discussed annually through the years?
Think of your doctor as a guy or gal who wants to see you live long and healthy.
Think of our office as the team, if I can borrow the saying from Star Trek’s Mister Spock, who wants you to live long and prosper.
When you get that e-mail or phone call that says, it’s time for a review, we’re not filling our schedules to keep busy; we’re planning a visit to focus on you and your dreams to help make them happen.
