Your Check Engine Light is On

Your check engine light is on…so what are you going to do? Well, normally you take it to either the dealership or to your mechanic to solve the problem, right? Also, it’s something that you want to get done ASAP.

Well, we are now into the second half of the year, and I promise you there’s a high percentage chance that the “check engine light” is on regarding your retirement accounts, and any other investment accounts. Given that your 6/30 statements should be to you either via US Mail, or via email, I think that now is the perfect time to resolve this, don’t you?

What does the “check engine light” mean to you from an investment standpoint? Simple, your accounts are not working to their optimal efficiency. It could be a variety of things:

• Investments in the plan do not match your time frame or your risk tolerance
• You have no clue what you’re invested in, only that if statement returns are positive or negative.
• Bad decisions based on emotions have never been corrected (i.e., going to cash in periods of high volatility and missing out on opportunities for portfolio growth)
• You have no written plan or series of strategies to accomplish your financial & retirement goals.

In my book, “Castles & Moats” I use the phrase “stress test” multiple times on both the Moat of insurance protection, and the Castle of financial wealth. A good financial plan should look all of the different financial & insurance products in a person’s sphere.

I’m learning that some people are reluctant to sit down with a financial advisor for several reasons. The main one is that they are embarrassed to disclose where they are financially and will compare themselves to other people, thinking that they are way behind in their saving and investing. What happens more often than not is that after my review, I show them where they are way ahead of where the average 40, 50, 60-year old is.

Two of my all-time favorite clients have since passed on, but I remember after I did a financial MRI for them early on in our relationship. I looked at the husband and said “Congratulations! You’re a millionaire!” You should have seen the look on his face! He had looked at each asset individually and never added everything up and subtracted the liabilities. Once he retired, I built a plan for them that they could not outlive and offered a lot of flexibility along the way. I’m pleased to say that there was a good amount left for their adult children to enjoy today.

I’ve always loved the above graphic as it tells a great story to prove my point. What if, after my review of your financial documents, I was able to turn your reality into your personal financial plan? Is that something you would like to achieve? Well, you know the process. Click or call me at the email address or phone number below, and let’s get a coffee on the calendar.

As always, thank you for reading down the page, and mentioning my blogs and book when we see each other.

Many thanks,

Brian

**Examples are intended for illustrative purposes only and may be not indicative of your situation. Individual results may vary.