When it comes to your money, one question you must be able to answer is: Are you working with investment counsel you can trust? Are you working with a counselor who adheres to the fiduciary rule—someone who, by law, makes investment decisions that are best for you, not them? Are you working with someone who’s seen it all? Yes, stocks do crash. That at least puts you at the starting line.
Next, you and your counsel need to develop trust. This comes in many ways. The idea is to get to a level where you can ask your counsel anything, knowing you’ll have an answer with the truth you deserve. Only then will you have the confidence to ACT.
Do you talk with your investment counsel? I dial the phone (yes, talking is a thing) and talk all day long. To me, it’s the only way to create trust. It’s developed like an oyster pearl over thousands of conversations.
You should never feel like you’re told what to do by your investment counsel. You’re already told what to do enough in your life. You want guidance that gives you the confidence you need to stick with your plan—it’s a wonderful feeling.
And believe me, the reward is a two-way street, especially when I hear: “Well, E.J. we’ve been working together now for twenty-plus years, what do you think I should do?”
Action Plan: You deserve investment counsel from a person who believes in you. Someone who will never lose sight of who you are and how you got here. Let me help keep you on the right path by signing up for my monthly Survive & Thrive newsletter, but only if you care about trust.
