Choices and Values...

I was all ready to flip the switch on my financial planner (FP) auto pilot, but WHOA! STOP THE PRESSES! My new partner in financial bliss had the audacity to ask ME some questions. What? I have to think? I thought I was done with choices when I chose him to lead me to the financial promised land. WRONG! Choosing to use an FP does not mean that there are not some responsibilities that remain. There will still be choices that need to be made. Do you want to guarantee a minimum return on that annuity? Do you want your dog to be set up as the secondary beneficiary, or the children? How much cash do you want to keep free for you to feel comfortable?

Choices, choices, choices... Your FP can make recommendations, but the final decision still rests in your hands. If you attempt to avoid making choices, then you are opting to play the victim card if something goes wrong. A good FP will not let you separate yourself from responsibility. Entering into a relationship with an FP is all about trust and communication. They have to trust you and communicate the options and recommendations and you have to trust them and communicate your goals and expectations. Good communication will make this partnership succeed. Poor communication will doom it from the start.

While some decisions are relatively easy (kids - yes, dog - no), others can be made easier if you have a clear set of values. Understand what the truly important things are in your life. Have a good chat with your spouse or best friend. Spend some quiet time by yourself and reflect. What is really important to you? If today was the last day you had to live, how would you spend it? Who would you spend it with? Are honesty and integrity important to you? Do your actions reflect honesty and integrity? How do you want others to treat you? What traits cause you to like other people? Enough questions already! My point is that if you understand what your values are, then most questions are already answered for you. Just apply your values to the questions and voila!

If you applied your values when choosing your FP, then he should be pretty well aligned with your thinking. It is critical that communication remains fluid throughout the relationship. It is not unlike a marriage. There may be good communication in the beginning, but if the communication ceases to be two way, then someone is going to lose. If there is something that is causing you distress about the plan, tell them. If you have made the right choice, they should be willing to spend the energy to help you resolve any issues that you are struggling with.

Hang in there my friends! Oh and by the way, what's for dinner?