May 1, 2018
In the 13th episode of the Confident Wealth Podcast, Bill Bush
and Pete Bush talk about the crucial questions that clients ask
financial advisors to prepare for retirement, and the questions
advisors ask clients. Gain a deeper insight into the importance of financial advisement, why you shouldn’t settle on just Googling for answers, and what makes for a solid client/advisor relationship.
Time Stamped Show Notes:
● 00:40 – Bill and Pete Bush have been podcasting for about six months.
● 02:20 – There is a massive amount of information that causes confusion.
● 03:23 – Am I on track to have enough money to retire?
● 03:54 – What are the expenses that will occur later on and what will be the income streams?
● 05:04 – Factor in inflation, because how much you will need will increase in the future.
● 05:14 – What does your portfolio need to do to meet your goals?
● 06:34 – Am I allocated properly?
● 07:59 – Your 401K plan for instance, you can have that allocation creep that happens, unless you don’t have the auto-rebalancing plugged in.
● 08:48 – Am I going to be ok to retire early?
● 09:56 – Leaving a legacy to kids is important to many people.
● 11:22 – How long should I prepare to live for with my retirement plan?
● 12:46 – How much insurance do I need to have?
● 14:28 – Its not the questions that you have for your advisor, it is the questions that your advisor has for you that make the difference in that relationship.
3 Key Points:
1. Answers are easy to find, but questions are harder to know to get the information you need.
2. Inflation should be factored in because how much you will need will increase in the future.
3. Its not just the questions that you have for your financial advisor, it is the questions that advisor has for you that make the difference in that relationship.
- “Answers are everywhere, they’re free, they’re easy to go get.” – Pete Bush.
- “What are the questions to ask of yourself, your particular situation, and most people can get maybe two or three questions in before they run into a question that they don’t know the answer to.” – Pete Bush.
- “Are there any causes or other people that you care deeply about that you would love to leave a legacy to?” – Pete Bush.