Skip to content

Episode #20: Unpacking Client Personalities

Today’s Prep:

We work with all sorts of personalities. After all, everyone has their own approach to retirement. Discover your personality when it comes to financial planning.

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

Equipping Points:

[00:46] –  Different Personalities. 

  • We work with all sorts of personalities, and we’ve noticed a trend amongst our clients. Eric outlines the different personalities we’ve seen. See whether these examples might apply to you.

[1:19] – The Victim. 

  • The victim has been burned by a broker or an advisor in the past. They believe everyone is out to get them. If you’re a victim, you really want to protect your wealth. In order to work with the victim, we have to demonstrate the value we can add as their advisor. It could take hours to build a level of trust with this type of client before they decide to work with us.

[3:15] – The Over-analyzer.

  • Over-analyzers think through every little detail. They’re the type to have in-depth spreadsheets outlining where their money is going. Over-analyzers tend to suffer from analysis paralysis, meaning it’s really hard for them to make a decision. For the over-analyzer, every decision could be the wrong decision. If you’re an over-analyzer, you have to realize there’s no way you could possibly make the perfect decision every single time when it comes to investing. It’s impossible to time the market, and it’s also impossible to predict exactly what will happen to you in retirement. That’s why it’s important to work with an advisor. Your advisor can take away the stress and free you to focus on what’s important to you in retirement.

Today’s Takeaway:

More From Eric:

The host: Eric Peterson - Contact - Call: (515) 226-1500

Subscribe To The Podcast:

Apple Podcasts  -  Google Podcasts  -  Spotify  -  Stitcher  -  iHeartRadio  -  TuneIn

Check out some other recent episodes

What To Do With Unexpected Extra Cash & Other Mailbag Questions

May 21, 2020

While many are hitting hard times financially, maybe you are among the few who are doing well and trying to make the most of it like Grace in Ames. Eric gives some advice on what to do with extra cash as well as answering two other questions from the mailbag.

Read More

Coronavirus Update and a Look at Interest Rates

May 14, 2020

When you retire, it’s important to set up several sources of income, particularly predictable income. What are some forms of reliable income and what streams of income are more vulnerable? We’ll explore the options and help you determine if they might work for you.

Read More

Finding Predictable Income Sources in Retirement

May 7, 2020

When you retire, it’s important to set up several sources of income, particularly predictable income. What are some forms of reliable income and what streams of income are more vulnerable? We’ll explore the options and help you determine if they might work for you.

Read More

What’s The Difference Between These Important Financial Terms?

April 30, 2020

Do you know the difference between a Roth contribution and a Roth conversion? What about individual bonds and bond funds? Eric explains the difference between these important financial terms so you can decide what should be included in your financial plan.

Read More

The Fool’s Gold of Retirement Planning

April 23, 2020

Are you clinging to financial ideas that give you a false sense of hope? On this episode, Eric points to clear strategies for you to make wise decisions when retirement planning.

Read More

Dealing With The Death Of A Spouse

April 16, 2020

A financial plan should consider more than just where your investments are. Even though it’s
uncomfortable to bring it up, do you know what your plan is following the death of a spouse?

Read More

Social Distancing For Your Finances

April 9, 2020

In order to keep safe, we’re all practicing social distancing right now. With your finances, are there some areas that need a little bit of space between them for safety and protection? Let’s run through four examples of social distancing in your financial plan.

Read More

Should I Keep My Life Insurance Policy + Other Mailbag Questions

April 2, 2020

If your life insurance policy goes up after you turn 60, you may wonder if it’s still something
worth paying for. Or maybe you’ve just received an inheritance and don’t know what to
expect when it comes to taxes. Eric answers three questions from the mailbag this week.

Read More

Making Home Renovations and Protecting Your Retirement Income

March 26, 2020

Are you wondering how to pay for a home renovation in retirement? Or, are you concerned about the market volatility with retirement a few years away? Eric answers three questions from the mailbag all related to making wise decisions regarding money in retirement.

Read More

Life Happens: How Will Your Financial Plan Be Impacted?

March 19, 2020

We all know at one point or another something is bound to happen that can throw off your financial plan. How will you address these possible scenarios when it comes to your financial plan?

Read More

Leave a Comment