Does Your Financial Plan Need a Second Opinion?

When we face life’s tough decisions, such as a career move, relocation, or a medical treatment, we usually conduct research and gather as much information as possible. Sometimes we look to trusted mentors, family, friends, or even the Internet in order to make the most informed decisions.

In the same way, creating and customizing a financial plan is a significant decision. It involves building up the security and confidence you need to pursue your goals, retire, and live the life you desire. It’s just as worthwhile to get a second opinion on your finances as it is on anything else.

The Value of Another View

According to an article in Forbes, while Americans today are quite confident about their retirement and financial future, in most cases they are not truly prepared. Since we want you to be both confident and prepared, here are three reasons to get a second opinion and let us guide you as you work towards your goals:

1. It Solidifies Your Strategy 

If multiple professionals offer similar advice independent of each other, it gives you confidence that your plan is appropriate for your goals. If they contradict each other, they can each explain why they’re making a particular recommendation and help you better understand your options.

2. It Eliminates Doubt

Some investment professionals may promote certain products or investments over others due to the commission they are paid. Luckily, the new DOL rules require that anyone advising you on a retirement account provide unbiased advice. Getting the opinion of an independent, objective advisor can help eliminate doubt about your plan.

3. Two Heads are Better Than One

Using the “two heads are better than one” approach, more information is always better than less. Having more than one viewpoint can help you avoid common financial pitfalls. Further, the team approach often fuels creativity, even when it comes to retirement planning, as pointed out by a Financial Planning blog post.

Spring Cleaning for Your Financial House

One article on NerdWallet, the NASDAQ.com blog, advocates for an annual spring cleaning of the performance of investments with your financial advisor. This way, you may be able to adjust tax withholding in order to have more cash on hand, ramp up retirement contributions if possible, and rebalance your portfolio if needed. This regular review helps you communicate with your advisor at least once a year and also helps convey any new goals you have or life changes that have occurred.

How Do I Know if My Financial Plan is Right for Me?

Financial planning can be complicated and overwhelming. In order to make the best decisions possible and create a financial plan that helps you feel secure and confident, it is important to work with a qualified and experienced financial professional.

If you think your financial plan deserves a second opinion, one of our guides would love to meet with you over the phone to hear your story, learn about where you are financially, and offer any free help we can on that call.  We have a no-pressure attitude, so don’t worry about feeling pressured to work with us.  Let’s just have a chat. Call our office at 509-591-0014 or email us at [email protected].

About Jeffery

Jeffery Lewis is the president of Epic Trust Investment Advisors and a financial advisor with more than a decade of industry experience helping clients prepare for their financial futures. Serving as a financial advocate and coach, he strives to help pre-retirees prepare for a long retirement with a predictable monthly income and help people use money as a force for good and to spend it in the service of others. Along with his degree in business management, Jeffery is a CERTIFIED FINANCIAL PLANNER™ professional and a Chartered Retirement Planning Counselor®. To learn more about Jeffery, connect with him on LinkedIn or send him an email at [email protected].  

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