Create a customized long-term strategy transcript
I think what's very important is really to find out what's most important to the client. If they have short-term goals that are not accomplished that makes them concerned or it makes them lose sleep at night, we tend to focus first on accomplishing those goals while making sure that we're also addressing those other goals, like the long-term goals.
So in a recent study by AgeWave, we found that current retirees that really start planning for retirement at the age of 34, they're much happier now. And they feel more purpose. They're more engaged. And they're more fulfilled in retirement.
So I really stress the importance of making sure that they find balance. And ultimately, the client's going to make the final decision. But it is my role as their financial advisor to help them make sound financial decisions around their financial goals and around their objectives.
There's no perfect formula when it comes to addressing their needs. However, there is a Benjamin Franklin quote that I use. And the quote is, "failing to prepare is preparing to fail." And so to prepare is the first step. And so after preparing and putting a plan together, it's important to meet at least once a year to discuss the progress being made in addressing those goals. My most satisfied clients do this. And they really feel financially empowered in the long term.