We want to congratulate you for taking a few minutes to read this article. It’s obvious you’re willing to learn from others and get this right! What you’re about to read are comments we’ve heard from new clients through the years. If you’re willing to learn from their mistakes, you’ll save yourself a lot of time and frustration.
Mistake #1:
“I chose an advisor around the corner from my home”
Don’t make the mistake of choosing an advisor the way you choose a convenient grocery store or gas station. Your money and your financial future deserve more effort and you should remain open to working with someone who is responsive, knowledgeable, and desires to educate you…and he or she may be located across town or across the country.
Mistake #2:
“I chose the first advisor I interviewed”
Advisors have different backgrounds, education, certifications, experience, and expertise. Invest the time to visit in person or virtually with two or three advisors. Ask them about their personal beliefs about money (more on this below). To make a confident decision you’ll be pleased with for many years, you need to gain exposure to different personalities, teaching styles, and investment strategies to determine if the advisor is a good fit for you.
Mistake #3:
“I chose an advisor who hasn’t achieved financial independence.”
Would you hire a fat, undisciplined trainer you met at your gym? No way! Set the bar high for your financial future and work with an advisor who has achieved financial independence. Ask hard questions when you interview advisors about their personal financial situation, debt load, giving, etc. If they’re not happy to share this information and you hire them, you may have made a big mistake.
Mistake #4:
“I chose an advisor who doesn’t share my core values”
The investment recommendations an advisor makes should be tailored to your values. This is much easier to do when your advisor shares your values and beliefs. For example, Kingdom Wealth Management is faith-based. We believe our money (and your money) belongs to God. We practice Biblically Responsible Investing (BRI), which means we don’t recommend investments from companies who aren’t improving life for people. If you share these core values we believe you will enjoy working with us and we know we will enjoy working with you!
Mistake #5:
“I chose an advisor who isn’t helping me proactively reduce taxes in retirement”
This one is super important! Choose an advisor who is always thinking about ways to reduce your taxes. When you interview the advisor, they should be talking about taxes in retirement without being prompted. Not having a tax-aware & tax-educated advisor today can lead to frustration (and potentially expensive lifestyle changes) in your future. You want an advisor who will educate you how to think about avoiding unnecessary taxes, and who will make tax-sensitive recommendations.
Let’s visit soon!
We would enjoy spending time with you to learn your values and beliefs, goals and dreams for the future, and answer all your questions. We love to teach our clients about money management, investments, tax-saving strategies, and charitable giving. We want to help you provide for your family today, tomorrow, and many years from now. To request an appointment, call us at 832-474-7381 or click here for our calendar: Make an Appointment with Randall at Kingdom Wealth Management