The Setup:

No one enjoys having to take part in those difficult conversations but it’s a necessary part of building a comprehensive retirement plan. Let’s finish up our two-part series with three additional topics that you might not enjoy discussing but your financial advisor needs to be asking these questions.

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Click the timestamps below to skip to a specific topic in the episode.

The Combination:

Building a retirement plan requires having awkward conversations with your financial advisor. No one wants to sit down and discuss difficult topics but it’s the only way you’ll put together a comprehensive plan.

We spent our last podcast talking about the death of a spouse and the possibility of nursing home care. Now we turn to three more conversations that need to be happening between you and your advisor, even if it makes you squirm a little.

The first deals with your estate and legacy plan. Have you sat down with your children and let them know where they fit in? Are they clear what your wishes are when you pass? Ben will take us through that difficult conversation and why it’s important for your family.

The next is how long do you have to work. You might have a retirement date in mind, but do your assets and retirement income line up with that day on the calendar? On the flip side, sometimes this conversation leads to you finding out that retirement might be possible earlier than you expected.

Finally, how well is your financial advisor working for you? If you aren’t completely satisfied with how your money is being invested, it’s time to have a face-to-face conversation with them and explain why you need to make a change.

Those three awkward conversations will help us wrap part two on the Unlocking Your Financial Future podcast. So when you hear someone tell you to find a financial advisor that you trust, this is one of the main reasons why. If you aren’t comfortable opening up and having candid conversations, you won’t be able to build an effective plan that meets every one of your needs.

We’ve laid out the main topics below. Click the timestamps to jump around in the episode.


Key Points:

0:38 – Here’s what we’re talking about in part two of our series.

1:28 – Thanksgiving traditions for Ben and his family.

3:00 – Awkward conversation: Do your children understand your estate and legacy plan?

5:06 – The cleanest way to pass on your estate is by working with an attorney.

5:47 – Awkward conversation: Do we need to keep working longer than we’d planned?

7:35 – Sometimes that conversation turns out to be great for the client.

8:25 – Awkward conversation: Separating from an advisor that isn’t a great fit for you.

9:40 – How often do you speak/communicate with your clients?




Related Content:

Awkward Conversations With Your Financial Advisor – Part 1