Scheduled Your First Meeting With A Financial Planner? What Questions You Should Be Prepared To Answer


A financial planner can help you manage your money and achieve your dreams in the future. They can help you determine how much money you will need to live and how much you need to set aside for things like retirement and college funds for kids. They can then manage your various funds, helping to ensure they are earning you interest.

If you are looking to hire a financial planner, you will want to sit down and talk to a few to find the right one. However, if you have never done this before, you may be unsure as to what types of questions they will ask of you and what information you need to bring. Here are a few of the questions that you should be prepared to answer when meeting with a financial planner for the first time.

What is Your Current Net Worth?

One of the most important questions that a financial planner will ask you is how much money you currently have. If possible, bring along your current bank statements, retirement account information and other financial documents that may show how much money you have invested in stocks or CDs. A financial planner will need to see how much money you currently have saved up to determine how to best manage your money to achieve the dreams you are after.

How Much Do You Currently Spend?

Another key bit of information that a financial planner will need to know is what your monthly expenses look like. Ideally, you will want to set aside at least ten percent of your income into a retirement account. However, some people simply do not have that much money that they can set aside after taking into account all of their monthly bills. Take the time to track your monthly spending for a few months and bring this information into your financial planning meeting. A planner can identify areas where you may be able to cut expenses, while accurately putting together a plan for your future savings based on your current income.

What Are Your Future Plans and Goals?

The last question you should be prepared to answer is what your future plans and goals look like. If you are currently in school to better your career advancement, let the financial planner know so they can include the increase of income into your future plans. If you want to retire early, let your planner know so they can help you to set aside the right amount of money. However, you need to be realistic with your goals. You may dream of owning a beach home and retiring at 50, but if you can't set aside a lot of money monthly and are starting a retirement fund late in life, this may be unattainable. A planner can let you now what is and is not feasible, helping you to reach your goals in life.

Financial planning doesn't have to be hard. If you are not sure what to expect, you may be nervous about meeting with a financial planner for the first time. However, learning what questions you should be prepared to ask will help you mentally prepare for this meeting and be know what topics will be discussed.   


25 May 2017

Talking about Gold Buyers and Sellers

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