Today’s Question:
My mother used to say…to make my bed, obey my parents, and save my pennies. What other commonly used phrases by mom relates to financial advising today?
Click on the timestamps below to jump to specific topics.
Confidence Corner
Moms do so much for us, including imparting some valuable pearls of wisdom our way. What same principles apply when it comes to financial planning?
Sometimes you ask your mother “Why?” only for her to respond, “Because I said so!” Is this how it works with a financial advisor? You should always be able to ask why and get more details. Having that added understanding gives you the confidence to make the right decisions about your money.
When you’ve been working with a financial advisor for awhile, you might assume you’re on the same page. But advisors can’t read your mind. You have to act your age and be ready to adjust your financial plan accordingly.
Just because your friends are doing something, be it jumping off a bridge or investing in gold, will you do it, too? It’s important to do what’s best for you and for your situation. Are you following your friends more than your advisor and your financial plan?
As a kid, you don’t always realize how much your mom is doing for you but she might occasionally say, “You’ll thank me later!” Similarly, when you work with a financial advisor, you might get caught up with the costs but later on realize how much they actually saved you in the long-run.
Listen to the full episode or click on your favorite “mom saying” with the timestamps below.
1:11 – Fun fact: Not making your bed can be safer.
3:06 – “Why? Because I said so!”
6:03 – “If you’re going to act like a child, I’ll treat you like one.”
7:55 – “If all your friends jump off a bridge, will you do it too?”
11:37 – “One day you’ll thank me.”
14:13 – What kind of financial education did you receive in school?
A Point Of Wisdom:
“You cannot let your financial advisor care more about your retirement than you. You’ve got to ask questions and know what’s going on because that’s what brings your confidence and peace of mind.“
-Nathan O’Bryant
Related Content:
PODCAST: Financial Planning by Profession
PODCAST: 5 Types of Financial Risk
Additional Resources:
Download Your Retirement Rescue Toolkit – Learn More About Our Firm
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