Questions to Regularly Ask Your Financial Planner
Maybe you have a financial planner you enjoy working with—that’s great! But even so, it’s important to meet regularly to talk about how your investments are performing and make any changes that are needed.
When you meet for your regular check-in with your financial planner, consider asking these questions. They can help you know if your wealth-building strategy is on track.
Question #1: How is my current portfolio working toward my goals?
Investing is a marathon, not a sprint—but you still need to check in and reevaluate your strategy regularly. As a whole, is your portfolio performance on track? Do your fund selections still make sense with your long-term goals?
Question #2: What’s missing from my financial plan?
Life changes all the time, and those changes can impact your financial plan. Maybe it’s time to start saving for your kids' college. Maybe your parents had recent health issues and you want to be prepared to help.
As your finances shift with time, you need to talk about these changes with your financial planner.
Question #3: How will my investments affect my taxes?
Did you know your financial planner can also help you understand your tax situation? That’s right. A financial planner can help you make informed decisions about everything from which tax breaks to take to how taxes impact your estate planning. Just remember to keep the whole picture in mind: Don’t make choices about investing based on the tax impact alone.