Money Over 50 Financial Advisers
  • Home
  • What We Do
  • Who We Are
  • Podcast
  • Blog
  • FAQ
  • Contact Us

The right and wrong questions to ask a financial planner.

3/5/2017

 
coffee on table
​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.
The wrong questions include; anything that either can’t be answered, or where the answer will be the same for everyone. For example:
  • When’s a good time to invest?
  • What’s a good investment return?
  • What’s the share/property market doing?
  • Is property/shares a good investment?

If a financial planner is being honest, all of these types of questions should get some variation of these three responses:  ‘it depends’, ‘I don’t know’, or ‘for what?’.

The right questions include; anything that can only be answered by someone who knows your situation, or something you need to know in order to achieve your goals.  Some of these include:
  • How much money will I need to retire?
  • What should my superannuation be invested into?
  • What investment return do I need in order to meet my goals?
  • How much do I need to save each pay cycle?

A rule of thumb here is that a good question should include a first person personal pronoun… which is basically a fancy way of saying ‘I’, ‘we’, ‘us’, ‘our’, etc.  Also, all of these questions should relate back to a goal that is specific to you (i.e. what does retirement look like for you, and when would you like this to happen).  Another good rule of thumb is that your financial planner should be able to give you a concrete answer (yes, no, X amount).

For most people, the initial stages of meeting with a financial planner aren’t necessarily about getting answers to your questions.  In many cases, we need to take a step back and work together to come up with the right questions, the ones that you really need the answers to.

So if you’re not getting a straight answer, you either need to change your questions, or your financial planner.

Written by Dallas Davison.

Comments are closed.

    Author

    Dallas Davison, Michael Hogue and Ali Hogue.

    Archives

    January 2021
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    April 2018
    March 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    June 2015

    Categories

    All
    Achieving Financial Goals
    Active Management
    Age Pension
    Alice Springs
    Assets
    Budeting
    Budget
    Budgeting
    Business Owner
    Cash
    Children
    Clients
    Decision Making
    Downsizing
    Effective Budgeting
    FAQ
    FAQ's
    Fees
    Financial Advisor
    Financial Advisor Julia Creek
    Financial Advisor Richmond
    Financial Advisor Winton
    Financial Freedom
    Financial Goals
    Financial Mistakes
    Financial Myths
    Financial Planner
    Financial Planning
    Financial Planning Charters Towers
    Financial Planning Mount Isa
    Financial Priorities
    Financial Recovery
    Financial Risk
    Financial Risks
    Financial Security
    Financial Strategy
    Financial Support
    Hand Outs
    Hand-outs
    Happy Money
    Hedonic Treadmill
    Index Management
    Inflation
    Inheritance
    Interest Rates
    Invesment
    Investment
    Investment Property
    Investment Winton
    Julia Creek
    Legislation Changes
    Listener Question
    Money Over 50
    Mortgage
    Mount Isa
    Mount Isa Superannuation
    Norway Sovereign Wealth Fund
    Profit
    Renting
    Renting Vs Buying
    Retirement
    Retirement Goals
    Retirement Planning
    Retirement Planning Julia Creek
    Retirement Planning Risks
    Retirement Savings
    Retirement Winton
    Risk
    Salary Sacrifice
    Saving
    Savings
    Semi-retirement
    Sharemarket
    Shares
    Strategies
    Strategy
    Superannuation
    Superannuation Contributions
    Tax
    Tax-free
    Travel Managers

​HOME
WHAT WE DO
WHO WE ARE
PODCAST
BLOG
CONTACT US

Important Information
Financial Services Guide
Privacy Policy
Money Over 50 Financial Advisers
​
Tel 07 4772 0938
Email mail@mo50.com.au
45 Ingham Road West End Townsville Qld 4810

Money Over 50 Financial Advisers Pty Ltd ABN 26 146 225 505, 45 Ingham Road, West End Queensland 4810 is the holder of an ASIC Australian Financial Services Licence (AFSL) #471826.

Website by Grey and Grey
  • Home
  • What We Do
  • Who We Are
  • Podcast
  • Blog
  • FAQ
  • Contact Us