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Figuring Out ‘Financialese’

Have you ever met with a financial advisor and wished you had a translator?  I know I did a few years ago when my sisters and I spent months interviewing various advisors for some family trusts.

Nice people, all of them. But once they got started, they were speaking in a foreign tongue.

I thought I knew this language. After all, I’ve written 6 books about money, including Finding a Financial Advisor You Can Trust.

But these folks, at various points in the discussion, had my head reeling. 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 their first reaction is often to put their reeling heads right back in the sand.

Consider this blog, in part, a Plea to Professionals.  C’mon, you people. Speak in plain English. And then  check in with clients at frequent intervals to make sure they understand what you are telling them..  

Even as I write that I know that 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 plan.  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.   Which is exactly what I had to do in those meetings. And you know what? Every expert was happy to explain. And I actually learned a lot.

It all boils down to this. If we don’t understand  ‘Financialese,’ it doesn’t mean we’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.

Have you ever found your head reeling while talking to a financial professional ? Leave a comment below to tell me what you did.

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Comments & Feedback

  • Geri

    Barbara, this was one of my most important takeaways when you taught us this in women and wealth course and I try and channel you each time I talk to my financial advisor. He has a tendency to speak financial-see and I may have to ask several times or reframe the question that I have but he is always willing and cooperative and finally we get down to where I can understand what he is talking about. Thank you so much for sharing your wisdom and really caring about women and their relationship to money

    • barbara huson

      Thank YOU, Geri, I always love hearing from you! And thank you for sharing this wonderful story of steadfastly asking questions when you don’t understand the answers!!! Very powerful. And I truly appreciate your kind words! Big hugs xo

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Meet Barbara Huson

When a devastating financial crisis rocked her world, Barbara Huson knew she had to get smart about money… and she did. Now, she wants to empower every women to take charge of their money and take charge of their lives! She’s doing just that with her best-selling books, life changing retreats and private financial coaching.

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