To ‘have someone in your corner’ is a common saying that originated in boxing, where the coach or trainer is in the competitor’s corner offering advice and letting the fighter know how they are going.
A year ago, Dallas met with some regular clients. This couple – one who is retired and one who is close to retiring – listened intently as Dallas clearly outlined their trajectory – that is, what he predicted would happen to their financial position in 12 months’ time. He could see, at the time, how things would work out if they took certain steps – and he reassured them on a few strategies they were somewhat hesitant about.
The world of finance sometimes comes with a big elephant in the room – is your adviser trustworthy? Unfortunately, we sometimes see stories about financial advisers (or people in positions of power or influence in financial institutions) who have misappropriated funds for their benefit (i.e. they’ve stolen money from their clients).
Today, we look at the interplay between hard work and good work. We have a saying here at Money Over 50: with your hard work and our good work, we can achieve great things.
Today we discuss an urban legend that is actually true – the story of Van Halen and their brown M&Ms ritual.
Recently, Michael caught up with a friend who works as an accountant. A long discussion about the two professions got Michael thinking: do listeners of the Money Over 50 podcast (and people in general) know the difference between an accountant and a financial adviser?
Whenever we tell people we’re financial advisers, the first question we get asked is ‘what is a good investment?’ or ‘what should I invest my money in?
When Michael was at the tile shop looking for renovation ideas and being asked to choose between an assortment of different designs, he left in a haste and joined his kids in watching a Disney show instead. When it came to choosing tiles for his new bathroom, Michael was overwhelmed – and simply couldn’t envision what the tiles would look like on a wall. All credit goes to his wife Suzie, who has done all the hard yards and put up with him at the shop.
We’re going to get a little philosophical here and make this statement: people in the modern world want lots of choice in their lives. They want options when it comes to making decisions. And with modern technology, information is abundant – providing so many options for everything we do.
During our first appointment, we spend a lot of time asking questions. We always say that there’s no right or wrong answer, and this is true. However, we also get asked a lot of questions during these appointments, and although it seems strange, there is such a thing as ‘right’ and ‘wrong’ questions to ask your financial planner.
Dallas Davison, Michael Hogue and Ali Hogue.