Financial planners are a great resource for anyone that wants to make the most of their money. Americans have become smarter about money and retirement, yet about 22% still have less than $5000 saved for their retirement. If you want to improve how you manage your money and find ways to meet both short-term and long-term financial goals, financial planners can help.
Being well-prepared for your first financial planners meeting will ensure that you get on the right path to improving your finances.
Write Out Your Questions
Many people leave that first meeting with a financial planner with plenty of questions because they forget what they want to ask. The best way to get all the answers that you need is to write down the questions you want answers to as they arise. Jot down questions that come up before you forget them.
Of course, your financial planner will be happy to answer the questions you have after your first meeting, but for your own peace of mind, it is a good idea to have your questions ready at that first meeting.
Create a Financial Picture
Make a list of the basic parts of your current finances. You do not have to bring tons of documents with you, but at the least, you should be able to convey:
It is important that you can paint a picture of your current financial situation. The financial planners may request more information to get a clearer picture of where you stand financially to better help you map out your financial goals.
If you have any financial documentation handy, you can bring that along with you to give the planner a more in-depth picture of your finances.
Consider Your Goals
Before your meeting with the financial planner, you should have some clear financial goals in mind. For example, is retirement savings a primary goal? Where do you want to be financially five years from now, ten years from now, and further down the road?
Having clear-cut goals to discuss with your financial planner is essential to the success of the meeting. Consider both your long-term and short-term goals and write them down and be ready to discuss your goals.
A little pre-planning can get you ready for your meeting with your financial planner.