Episode #15: Real Advising Is Problem-Solving

Today’s Prep:

Most people think their advisor’s primary job is picking investments. However, your advisor should primarily engage in problem-solving. Discover real situations that became less about investing and more about problem-solving.

(Click the featured times below to jump forward in the episode)

Equipping Points:

[00:40] – Problem-Solving Is A Key Element Of Financial Planning.

  • Most folks think their advisor’s primary role is to pick investments, but really, the primary role of an advisor is to engage in problem-solving.

[1:49] – Tax-Related Problem-Solving.  

  • David shares the story of a client who found an intriguing tax-related opportunity. He was in his early 60s, and his tax bracket dropped as a result of the latest tax cut. However, his window to take advantage of the tax cut was closing. David explains why and outlines how he helped this client take advantage of his situation.

[5:38] – What Do You Do When You Unexpectedly Lose A Spouse? 

  • We met with a woman whose husband died unexpectedly. He had taken on the designated role of managing the finances, so she had to learn how to manage the finances without him.

[8:13] – The Importance Of Long-Range Planning.  

  • As we worked with this woman, we were able to develop a plan for her that would leave her financially secure until she reached the age of 100. It’s important you incorporate longevity into your financial plan. After all, nobody knows how long they’ll live or what needs they’ll have as they age.

[9:21] – What To Do When You Want To Leave Your Job ASAP.  

  • If you hate your job, but you’re not ready to retire, it could take some problem-solving to get you there. We want to give our clients financial security, and our planning process helps them to see exactly when they’ll be able to retire.

[10:31] – Leave On Your Terms.  

  • When you retire, we want you to leave on your terms. Having a good plan in place can empower you to take the necessary steps toward a sound retirement.

Today’s Takeaway:


More From David:

The host: David Dickens

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