When I meet with people inquiring about my services, the most common thing that clients want to know is ‘how they are doing.’
This is not a question that I can really answer. Why? Because how someone is doing is relative to the outcome they are hoping to achieve. I can have two 40-year-old clients with the same amount of money, but they could have vastly different lifestyles. Even though it may appear on the outside that they are ‘doing the same,’ their goals could be quite different and therefore have different outcomes.
So, when you are wondering how you are doing, take this question one step further. Instead, ask yourself “Why does it matter how I’m doing?” The answer to this question depends on the person. This is why you hear so much about goals in financial planning. Yes, it is very boring to hear a Financial Planner talk about helping you reach your goals. However, that is the simple way to explain we help you figure out what you want to do, tailored to your unique situation.
Some common answers to this ‘Why does it matter how I’m doing’ question could be the following:
- I want to make sure my family is protected if something happened to me
- I want to retire one day and continue living the way I do now
- I want to build wealth
- I want to make sure my kids do not have to take out loans for college
If you would like a copy of my master list of goals to help you start thinking about why you want to know how you are doing, send me a DM and I am happy to send it over to you.
Financial Journey LLC is a registered investment advisor offering advisory services in the state of Virginia and in other jurisdictions where exempted. Information provided is for educational purposes only and not, in any way, to be considered investment or tax advice.