Why People Put Off Meeting with a Financial Advisor

Today’s Prep:

Are you avoiding meeting with an advisor? Let’s talk through some of those fears or doubts and help you overcome the hurdles to getting your financial plan in order.

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

Equipping Points:

When it comes to our health, some are prone to avoiding going to the doctor until it’s causing an even bigger problem. Similarly, some people put off seeing a financial advisor. Why is that? On today’s episode we talk through some of the top reasons people resist seeing a financial advisor and how to overcome those.

Worried about the costs? When you work with a professional, you do have to pay them. But it might end up saving you more in the long run. The value of an advisor is not the investing but the advice and the coaching. Eric explains how the fee structure works with him and his team.

Are you opposed to someone telling you what to do? Some people hate the idea of being told to live on a budget. Instead of viewing it that way, think about an advisor being there to help you get to where you want. Do you want to travel or improve your home? What will it take to get there? What kind of returns do you need to make and what kind of risk are you able to take?

Are you concerned that you won’t know what the advisor is saying or you’ll be embarrassed? A good advisor will talk you through it and explain the planning process. The reason you go to a professional is to have someone who is good at it help you.

Finally, many people are avoiding the possibility of bad news. Just like putting off the dentist or a physical, no one likes being told off they are in bad shape and need work. Sometimes the fear of finding out is worse than the actual situation. Go to an advisor, get a retirement readiness review, and find out so then you can plan and act accordingly with your financial plan.

Listen to the entire episode or click on the timestamps below to skip ahead.

[0:47] – Do you avoid going to a financial advisor?

[1:29] – It might be expensive.

[5:47] – They will tell me to do something I don’t want to do.

[7:54] – I’m embarrassed or won’t know what they are saying.

[10:22] – What if they give me bad news?


Today’s Takeaway:

That retirement readiness review is to help you get what you want, not tell you ‘don’t do this.’

-Eric Peterson

Related Resources:

Do You Agree or Disagree with this Retirement Advice?

Can You DIY Financial Planning?

The Customer Ain’t Always Right In Financial Planning

More From Eric:

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

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