The financial world can quickly grow confusing the further you dig with things like investments, loans, savings, insurance, and portfolios. As your list of questions grows, so does the chatter from different professionals trying to give you the advice.
Want to diminish that dizzy spiral of opinions? The best way to look back at your questions. Are you asking the right ones? Is one question going to answer the other? We want to save you time and money by helping you narrow down your questions so they can have the most impact.

  1. Instead of “What is a 401K,” ask “Do I have a 401K”

    Many 401K programs set aside money from your paycheck each month. For some large corporations, like Starbucks, the award longtime employees with stock in the company that can grow over time. However, not every company has a program. Ask your HR representative if your company has a 401K and review with your wealth advisor what your next step should be.
  2. Don’t ask “Should I Invest,” ask “How should I invest?”

    As discussed in the past, there are many ways to invest in your future from real estate to the stock market. This means that when you discuss the investment with your wealth advisor, you should not ask IF you should invest, but HOW. This way, you can begin putting your money where it matters to ensure a better future.
  3. Determining “Good” and “Bad” Debt

    Surprisingly, there is a form of “good debt.” Debt that you know you can pay off can be considered good. For example, you take out a loan $20,000 loan to go back to school so you can receive that $30,000 salary. With that salary, you can pay off that debt in a couple of years. Paying back debt can help you improve that credit score and the trust money lenders have in you.
  4. Stop Asking “How do I budget” and find out “What Should I Be Saving For?”

    Most people either don’t understand or don’t enjoy making budgets. However, it becomes much easier when you remember what you are saving for. Speak with your financial about what your goals are for the future and what you SHOULD save in the case of emergencies. After all, you need to know where you’re going before you can plan how to get there.
  5. Don’t Just Ask, Research

    The most important thing about making a well-informed financial decision is to be sure you also do your own research. Don’t be afraid to spend an hour learning about APR and investments. This way, when it comes time to begin making the big decisions, you know what questions are crucial to ask your financial advisor.
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