Have you ever met with a financial advisor, and wished you had a translator? My sister and I, spouses too, have spent the past few months interviewing various advisors for some family trusts.
Nice people, all of them. But once they got started talking, they were suddenly speaking a foreign tongue.
I thought I knew this tongue. I really did. I’ve written 5 books about money. I even wrote one on Finding a Financial Advisor You Can Trust.
But these folks, at various points in the discussion, had my head reeling.
At first, I was a bit embarrassed. I mean, I should know this stuff, right?
Then it hit me. No wonder so many women aren’t getting the financial help they need. One conversation with an advisor and their heads are reeling too. And most of them just want to put their reeling heads right back in the sand.
Consider this blog (in part) a Plea to Professionals. C’mon, you guys. Speak in plain English. And then check in with clients at frequent intervals to make sure they’re tracking.
But, truth is, I don’t hold out much hope.
And the truth is the onus is on us. I am a Big Believer in working with professionals…be it for a root canal or retirement planning. And sometimes the latter can be as painful as the former! But it doesn’t need to be.
Not if we’re willing to speak up, ask for clarification, and keep asking until we understand.
It all boils down to this. If you don’t understand ‘Financialese,’ it doesn’t mean you’re stupid. It’s simply a sign to ask more questions. The payoff is clarity. But, I’m here to tell you, the real reward is how powerful you’ll feel for standing up for yourself.
Can you relate to this post? You can tell me about your conversations with a financial advisor by leaving a comment below.