Tips on Making the Most of Your Financial Plan

One of the smartest things you can do as an individual is work with a financial professional. According to research* from the Principal Financial Group®, people who work with an advisor said they:

  • Were significantly more prepared for a comfortable retirement.
  • Made solid progress toward their long-term financial goals.
  • Were more financially confident.
  • Were happier with their current financial well-being.

You can make the most out of your relationship with your financial professional by sharing as much information as you can about your financial situation. If you haven’t already, consider discussing your answers to these questions the next time you meet with your financial professional:

  • “What’s your biggest frustration when it comes to managing your money?” Is it keeping track of several different accounts? Do you have a specific goal you’re struggling to reach?
  • “When was the last time you reviewed your whole financial picture?” Chances are, you have insurance, employee benefits and possibly other investments outside of your relationship with your financial professional. A comprehensive review of your finances can help him or her address any gaps in your plan.
  • “Do you have a beneficiary plan in place?” This blog post explains the benefits of beneficiary planning. When you’re ready to start, our “Create Your Family Legacy” workbook makes it easy.
  • “On a scale of 1 to 10, how satisfied are you with your overall financial plan?” This can lead to some great conversations. Even if you’re unhappy with some aspect of your financial professional’s service, it may help you feel more confident about your financial future.

If it’s been a while since you’ve met with your financial professional, contact him or her today to discuss these topics. The conversation will be helpful for both of you. If you don’t currently work with a financial professional, we can help you find one.

*Principal Financial Well Being IndexSM: American Workers (Q2 2013).

Principal Funds, Inc. is distributed by Principal Funds Distributor, Inc.

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