Home > Business > New Jersey Financial Expert Urges Consumers to Communicate

New Jersey Financial Expert Urges Consumers to Communicate

Communication is a necessary foundation for any good relationship, even the one you have with your financial professional. Regular meetings and connecting through conversation, not just email, create the basis for trust that will sustain your relationship and, ultimately, enable a promising financial future.Few people are comfortable "getting personal" in the beginning of a relationship. A good financial professional will be able to put you at ease and work to develop a financial plan that will achieve your goals. He or she will want to know about your income, savings, debt and life insurance coverage. Your attitude toward risk, different types of investments, need for security and financial priorities will also be examined. In preparation for your meeting, you should be ready to discuss these subjects.Life events: A new baby, job loss or purchase of a home affect your finances and should prompt conversations with your financial advisor.Market fluctuation: While the recent economy has instructed investors to stay the course, its important to address any concerns you have about the short- and long-term effect on your portfolio.Tax law: During the first quarter of the year, ask your financial professional about any changes to the tax code that could affect you.College funding: If you have children, dont be reticent about reviewing your strategy for saving for higher education.Life insurance: Ask your financial professional to evaluate the amount of coverage you have and whether your policy aligns with your needs and goals.Regular conversations are key. Its important that you set the expectations for the kind of relationship you desire with your financial professional. Because your financial plan should not be a "once and done" transaction, youll want to set up regular visits to address any changes in your life that would affect your plan. You might be satisfied with once-or-twice-yearly meetings, but a quarterly check-in wouldnt be excessive.Finally, make sure your financial professionals goals are aligned with yours. To find a qualified financial professional, please visit www.Pennmutual.com or contact Larry Singer of NJL&C, LLC in Livingston, N.J., at (973) 535-0955 x 142.
If you enjoyed the read, please share this article.
No comments yet. Be the first!

Articles you may like

Articles you may like

Printed from 2read.co - Your daily read

Article Categories