| As a financial advisor, I've found my clients ask a | | | | * Can I pay for my child's education? My grandchild? |
| broad range of questions concerning their financial | | | | * Can I afford to start my own business? |
| situation. However, these questions are all elements of | | | | * Do I have the ability to take my family on an |
| one basic question: "am I going to be okay?" Here is a | | | | extended vacation? |
| sample of the types of questions you should be asking | | | | * Will I be able to pass my home on to my children? |
| yourself: | | | | * Can I afford to leave my job to pursue something I |
| * Am I going to be able to retire by the age I have | | | | am passionate about? |
| targeted? Can I afford to retire early? | | | | Of course, this is but a small sample of the type of |
| * Once I retire, will I be able to maintain my current | | | | questions people may have, but the point of each |
| standard of living? | | | | question is really "can I afford to live the life I envision." |
| * If something happens to me, will there be enough | | | | Interestingly, notice that none of these questions have |
| money to take care of my spouse, children, and | | | | anything to do with achieving a high rate of return, or |
| parents? | | | | what the next hot stock will be. Thus, the true purpose |
| * What if I live longer than I anticipate? Will I have | | | | of financial planning is determining how we can live the |
| enough money to support myself? | | | | life we desire, not how to maximize our investment |
| * Can I afford to contribute to my favorite charities? | | | | accounts. |