Don't tarnish your relationship on the first day with one of these clunkers.
The first call to a new financial planner is difficult enough for many people, because asking for help often is. Don’t complicate their initial impression of you or future relationship with these opening lines:Like planning and preparing for a career, the more done ahead of time, the smoother the transition into retirement. This is a new chapter, not an end point. Retirement is a major change in lifestyle and income.
Partnerships create shared responsibilities. Build into the relationship a time to review and understand together – even if one person takes care of the day-to-day details. I heard other stories of once sharp businessmen falling prey to Ponzi schemes, women giving money away or men buying cars when they no longer had a valid license. Be prepared by being in the know.
Some financial do-it-yourselfers cannot see their own blind spots. Many are great at investments but may have overlooked their estate planning. Or without a deep understanding of their tax situation they end up paying so much more each year in taxes. Financial planners can not only help you save money, but also be sure you are spending your money more effectively. So, the cost of more than one session may actually save you money.On rare occasions, there are not many meetings involved.
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