Look back on the past five or ten years of your life. How much has changed? If there is one thing that is guaranteed in life, it is that you will experience change from time to time. And while change is something we have generally come to accept as a healthy and natural part of life, it still requires adaptation and flexibility, especially when it comes to your finances. One of the biggest problems we see today is that many of us make financial decisions based on our current situation but don’t update our portfolio or strategies to align with our new circumstances and priorities, such as changing jobs, having a child or grandchild, or starting a business.
Also, the recent market highs and lows may have effectively thrown things out of whack and have most likely caused you to question the wisdom of the investment plan you’ve been following. When something like this happens, in order to stay committed to your plan, you need to have complete confidence that it is still working for you and taking you where you want to go.
If you are nodding your head as you read this, here’s what I would like to offer: a cup of coffee and a second opinion.
Revisit Your Plan
I want to personally welcome you to come in and sit with me for a while. During our appointment, I’ll ask you to outline your financial goals and review your current plan/401(k)/investment portfolio/insurance, etc., so that I know where you stand, where you want to be, and what you are currently doing to get there. We will take the time to make sure we are on the same page with your objectives. I will listen to your story and learn both what makes you tick and what keeps you up at night.
I can answer any questions you may have about the market, strategies, or basic financial tips and principles. Then we can apply your concerns, ideas, and needs to your current plan to see how everything lines up.
It’s Worth A Second Look
Only after we take the time to understand your circumstances can I provide objective and independent feedback about your current situation. If I think your investments/insurance, etc., continue to be well suited to your long-term goals despite the market turmoil, I’ll gladly tell you so and send you on your way with the confidence that only comes from the objective confirmation of a knowledgeable second party.
If, on the other hand, I think your plan no longer fits your goals, I’ll explain why—in plain English. And, if you’d like, I’ll recommend some suitable alternatives. It may be that minor adjustments are needed based on your age, current economic woes, or a change in priorities and plans.
Whatever the case may be, it never hurts to take a second look at your financial plan and ensure that it is up to date, still applicable to all aspects of your life, and ideally suited to successfully pursue your long-term dreams.
Regardless of the outcome of our second look, our goal is for you to have confidence in us, in your decision, and in your financial plan.
And, either way, the coffee is on me!
Let me help you evaluate where you are now, determine where you would like to go, and address any gaps that may be apparent. If you are ready to revisit your financial plan, reach out to us for a complimentary consultation by calling (781) 995-0253 or emailing [email protected].
Paul McNulty is the founder of Boston Metro Advisor with over 20 years of experience helping people navigate the ups and downs of the economy toward the financial future they envision. His education consists of a Bachelor of Science in business administration from the University of Rhode Island and the CERTIFIED FINANCIAL PLANNER™ (CFP®) professional designation.
Paul’s experience and education have made him a multi-faceted professional capable of assisting people with virtually all their financial needs. His services include every facet of retirement planning, from 401(k) rollover services and income planning to wealth management and estate planning. Paul has been active in his community over the years as a youth sports coach. When he’s not spending time with his wife, Cindy, and their two children, who are both recent college graduates, Paul enjoys reading, playing golf, and fishing. Learn more about Paul by connecting with him on LinkedIn.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.