Ongoing Communication with Your Planner

I began traveling in my early twenties and had no need for travel insurance. I thought, “Why add the extra expense since I am invincible?” Fast forward several decades and my view has changed, and so has my appetite for risk. Just like my opinion has matured about travel insurance, so have my financial goals. My goals have evolved with my life changes, and this necessitates portfolio adjustments to meet where I am now.

Having said that, this is an opportune time for investors to reevaluate their risk tolerance. Even though the stock market has recovered from the steep decline experienced in the 4th quarter of 2018, this continues to be a challenging phase of the current economic cycle. Due to geopolitical, economic, and monetary uncertainties, consumer confidence is starting to wane, and all signs indicate a recession is on the horizon (but when it happens is anyone’s guess).

When you first met with your advisor, they gathered a tremendous amount of information. Well, that was just the beginning. Ongoing client input is essential, even after we implement your investment plan. What keeps you up at night? Are you saving enough for retirement? Can you pay for your children’s college?

If we are not aware of your current financial challenges or concerns, we cannot effectively keep you on track or address changes in your risk tolerance. Ongoing client input is essential to our process to keep your plan current and robust. Give us a call today.

Bonnie Struck, CMFC®, Worley Erhart-Graves Financial Advisors

This article was included in the Worley Erhart-Graves Quarterly Newsletter. Download the printable version here.